Under appropriate assumptions (private values and uniform punishments), the Nash equilibria of a Bayesian repeated game … cooperative solutions of the initial Bayesian game. This characterization does not apply to discounted games with patient players … (perfect Bayesian) Nash equilibrium payoffs of the discounted game, as players become infinitely patient, do exist. These …

We propose a Bayesian approach to empirical auction models. We argue that the Bayesian paradigm is more suitable to the …