Repeated implementation and complexity considerations |
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Authors: | Hannu Vartiainen |
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Institution: | 1.Yrj? Jahnsson Foundation,Helsinki,Finland |
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Abstract: | A game form is commitment-free if single actions of players do not have physical consequences, i.e., affect the continuation
game. Such game can be thought to represent inifinite interaction with complete patience. A choice rule can be Nash implemented
via a commitment-free mechanism if and only if it coincides with the feasible set of a normal form game. However, when players
are complexity averse (in the lexicographic sense), then any Nash implementable choice rule becomes available.
I am very grateful to Matt Jackson and a referee for their comments. I also thank Klaus Kultti and Hannu Salonen for useful
conversations. |
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Keywords: | Repeated interaction Commitment-freeness Nash implementation Complexity considerations |
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