Common Learning and Cooperation in Repeated Games

Takuo Sugaya () and Yuichi Yamamoto ()
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Takuo Sugaya: Stanford Graduate School of Business
Yuichi Yamamoto: Department of Economics, University of Pennsylvania

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

Abstract: We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex-post equilibria. In our equilibria, players commonly learn the state, that is, the state becomes asymptotic common knowledge.

Keywords: repeated game; private monitoring; incomplete information; ex-post equilibrium; individual learning (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Pages: 125 pages
Date: 2019-04-26
New Economics Papers: this item is included in nep-bec, nep-gth and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pen:papers:19-008

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