This paper investigates the Harsanyi (1973)-purifiability of mixed strategies in the repeated prisoners' dilemma with perfect monitoring. We perturb the game so that in each period, a player receives a private payoff shock which is independently and identically distributed across players and...

What are the welfare effects of enhanced disclosures of public information ? Is it always the case, that frequent and timely publication of economic statistics by government agencies and the central bank are desirable ? This question has become one of several interlinked strands of debate on the...