Switching costs in infinitely repeated games
نویسندگان
چکیده
منابع مشابه
Switching costs in infinitely repeated games
We show that small switching costs can have surprisingly dramatic effects in infinitely repeated games if these costs are large relative to payoffs in a single period. This shows that the results in Lipman and Wang do have analogs in the case of infinitely repeated games [Lipman, B., Wang, R., 2000. Switching costs in frequently repeated games. J. Econ. Theory 93, August 2000, 149–190]. We also...
متن کاملSwitching Costs in Infinitely Repeated Games1
We show that small switching costs can have surprisingly dramatic effects in infinitely repeated games if these costs are large relative to payoffs in a single period. This shows that the results in Lipman and Wang [2000] do have analogs in the case of infinitely repeated games.
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We demonstrate the surprising effect of two simple variations on the usual finitely repeated game model. In particular, we add a small cost of changing actions and consider the effect of increasing the frequency of repetitions within a fixed period of time. We illustrate the wide range of commitments this can make credible and the effects these have. Not surprisingly, switching costs can make i...
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ژورنال
عنوان ژورنال: Games and Economic Behavior
سال: 2009
ISSN: 0899-8256
DOI: 10.1016/j.geb.2008.04.018