 Uniform folk theorems in repeated anonymous random matching gamesJoyee Deb, Julio González-Díaz and Jérôme Renault Games and Economic Behavior, 2016, vol. 100, issue C, 1-23 Abstract: We study infinitely repeated anonymous random matching games played by communities of players, who only observe the outcomes of their own matches. It is well known that cooperation can be sustained in equilibrium for the prisoner's dilemma, but little is known beyond this game. We study a new equilibrium concept, strongly uniform equilibrium (SUE), which refines uniform equilibrium (UE) and has additional properties. We establish folk theorems for general games and arbitrary number of communities. We extend the results to a setting with imperfect private monitoring, for the case of two communities. We also show that it is possible for some players to get equilibrium payoffs that are outside the set of individually rational and feasible payoffs of the stage game. As a by-product of our analysis, we prove that, in general repeated games with finite players, actions, and signals, the sets of UE and SUE payoffs coincide. Keywords: Anonymous random matching; Uniform equilibria; Repeated games (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:100:y:2016:i:c:p:1-23 DOI: 10.1016/j.geb.2016.08.006 Access Statistics for this article Games and Economic Behavior is currently edited by E. Kalai More articles in Games and Economic Behavior from Elsevier |
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