Reputation in the presence of noisy exogenous learning

Ju Hu

Journal of Economic Theory, 2014, vol. 153, issue C, 64-73

Abstract: This note extends Wiseman [6] to more general reputation games with exogenous learning. Using Gossner's [4] relative entropy method, we provide an explicit lower bound on all Nash equilibrium payoffs of the long-lived player. The lower bound shows that when the exogenous signals are sufficiently noisy and the long-lived player is patient, he can be assured of a payoff strictly higher than his minmax payoff.

Keywords: Reputation; Repeated games; Learning; Relative entropy (search for similar items in EconPapers)
JEL-codes: C73 D82 D83 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:153:y:2014:i:c:p:64-73

DOI: 10.1016/j.jet.2014.05.008

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