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This paper addresses the problem of implementing socially efficient allocations in dynamic environments with interdependent valuations and evolving private information. In the case where the agents' information is correlated across time, we construct efficient and incentive compatible direct...
Persistent link: https://www.econbiz.de/10011856726
This paper studies n-player undiscounted repeated games with imperfect monitoring. We prove that all uniform communication equilibrium payoffs of a repeated game can be obtained as Nash equilibrium payoffs of the game extended by unmediated cheap talk. We also show that all uniform communication...
Persistent link: https://www.econbiz.de/10013046328