We study an infinitely repeated game where two players with equal discount factors play a simultaneous-move stage game. Player one monitors the stage-game actions of player two imperfectly, while player two monitors the pure stage-game actions of player one perfectly. Player one's type is...

Bayes Nash equilibria, as agents become patient.

Much of the interest in the adverse selection approach to reputations in repeated games arises from the fact that quite small departures from the complete information model seems to have large effects on the set of equilibrium payoffs. We show that this is not the case in reputation games where...

known by the voters.

We study an infinitely repeated game where two players with equal discount factors play a simultaneous-move stage game. Player one monitors the stage- game actions of player two imperfectly, while player two monitors the pure stage- game actions of player one perfectly. Player one’s type is...

We study a uniform-price auction where k identical common-value objects are allocated amongst z k bidders who have imperfect signals about the state of the world. The common valuation is determined jointly by the state and an action that is chosen after winning an object. In large auctions,...

As school districts integrate charter schools for centralized admissions in Denver, New Orleans, Newark and Washington D.C., some charter schools have stayed out of the system. This is counterintuitive as centralized clearinghouses are deemed beneficial to schools as well as students. We provide...

We analyze the value of information in the market for corporate control. The raider and the shareholders are privately and imperfectly informed about the post-takeover value of the firm. We show that public information provision reduces the dispersion of the shareholders’ beliefs resulting in...

We establish reputation results, under two sided incomplete information, for a class of repeated games. We consider a repeated game that satisfies the assumptions of either Atakan and Ekmekci (2012) [3] or Cripps et al. (2005) [6] and we assume that both players are Stackelberg types with...

This article considers a two-sided search market where firms and workers are paired to bargain over a unit surplus. The matching market serves as an endogenous outside option for the agents. The market includes inflexible commitment types who demand a constant portion of any match surplus. The...