Weakly Belief-Free Equilibria in Repeated Games with Private Monitoring

Michihiro Kandori

No CIRJE-F-491, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: 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 is a tractable class which subsumes, as a special case, a major part of the existing literature (the belief-free equilibria), and it is shown that this class can outperform the equilibria identified by the previous work.

Pages: 44 pages
Date: 2007-04
New Economics Papers: this item is included in nep-gth
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Journal Article: Weakly Belief‐Free Equilibria in Repeated Games With Private Monitoring (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2007cf491

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