This paper studies infinite-horizon stochastic games in which players observe payoffs and noisy public information about a hidden state each period. We find that, very generally, the feasible and individually rational payoff set is invariant to the initial prior about the state in the limit as...

We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex-post equilibria. In our equilibria, players commonly learn the state, that is, the...

This paper studies infinite‐horizon stochastic games in which players observe actions and noisy public information about a hidden state each period. We find a general condition under which the feasible and individually rational payoff set is invariant to the initial prior about the state when...

We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex post equilibria. In our equilibria, players commonly learn...