Revealed reputations in the finitely repeated prisoners’ dilemma
نویسندگان
چکیده
منابع مشابه
Rational Cooperation in the Finitely Repeated Prisoners’ Dilemma
A common observation in experiments involving finite repetition of the prisoners’ dilemma is that players do not always play the single-period dominant strategies (“finking”), but instead achieve some measure of cooperation. Yet finking at each stage is the only Nash equilibrium in the finitely repeated game. We show here how incomplete information about one or both players’ options, motivation...
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We investigate the finitely repeated prisoners’ dilemma with explicit contractual devices. We show that full collusion can be achieved by incentivizing the players’ final period of play with small fines. Our incentivizing modality is the penance contract, by which a player is penalized if (and only if) he deviates from the penance strategy in the final period. We show that using this contractua...
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This paper investigates the Harsanyi (1973)-purifiability of mixed strategies in the repeated prisoners’ dilemma with perfect monitoring. We perturb the game so that in each period, a player receives a private payoff shock which is independently and identically distributed across players and periods. We focus on the purifiability of one-period memory mixed strategy equilibria used by Ely and Vä...
متن کاملCooperation in the Finitely Repeated Prisoner's Dilemma
Abstract: More than half a century after the first experiment on the finitely repeated prisoner’s dilemma, evidence on whether cooperation decreases with experience–as suggested by backward induction–remains inconclusive. This paper provides a metaanalysis of prior experimental research and reports the results of a new experiment to elucidate how cooperation varies with the environment in this ...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2015
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-015-0863-1