Belief-Free Equilibria in Repeated Games
نویسندگان
چکیده
منابع مشابه
Belief-free Equilibria in Repeated Games∗
We introduce a class of strategies which generalizes examples constructed in two-player games under imperfect private monitoring. A sequential equilibrium is belief-free if, after every private history, each player’s continuation strategy is optimal independently of his belief about his opponents’ private histories. We provide a simple and sharp characterization of equililibrium payoffs using t...
متن کاملWeakly Belief-Free Equilibria in Repeated Games with Private Monitoring
Repeated games with imperfect private monitoring have a wide range of applications, but a complete characterization of all equilibria in this class of games has yet to be obtained. The existing literature has identified a relatively tractable subset of equilibria. The present paper introduces the notion of weakly belief-free equilibria for repeated games with imperfect private monitoring. This ...
متن کاملWeakly Belief-Free Equilibria in Repeated Games with Private Monitoring
Repeated games with imperfect private monitoring have a wide range of applications, but a complete characterization of all equilibria in this class of games has yet to be obtained. The existing literature has identified a relatively tractable subset of equilibria. The present paper introduces the notion of weakly belief-free equilibria for repeated games with imperfect private monitoring. This ...
متن کاملBelief-free equilibria in games with incomplete information∗
We define belief-free equilibria in two-player games with incomplete information as sequential equilibria for which players’ continuation strategies are best-replies, after every history, independently of their beliefs about the state of nature. We characterize a set of payoffs that includes all belief-free equilibrium payoffs. Conversely, any payoff in the interior of this set is a belief-free...
متن کاملBelief Free Equilibria
The repeated game literature studies long run/repeated interactions, aiming to understand how repetition may foster cooperation. Conditioning future behavior on past play is crucial in this endeavor. For most situations of interest a given player does not directly observe the actions chosen by other players and must rely on noisy signals he receives about those actions. This is typically incorp...
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ژورنال
عنوان ژورنال: Econometrica
سال: 2005
ISSN: 0012-9682,1468-0262
DOI: 10.1111/j.1468-0262.2005.00583.x