Existence of nontrivial equilibria in repeated games with imperfect private monitoring |
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Authors: | Tadashi Sekiguchi |
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Institution: | Faculty of Economics, Kobe University, 2-1 Rokkodai-cho, Nada-ku, Kobe, 657-8501, Japan |
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Abstract: | We consider finitely repeated games with imperfect private monitoring, and provide several sufficient conditions for such a game to have an equilibrium whose outcome is different from repetition of Nash equilibria of the stage game. Surprisingly, the conditions are consistent with uniqueness of the stage game equilibrium. A class of repeated chicken is shown to satisfy the condition. |
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Keywords: | Repeated games Private information |
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