Bounding payoffs in repeated games with private monitoring: n-player games

Takuo Sugaya and Alexander Wolitzky

Journal of Economic Theory, 2018, vol. 175, issue C, 58-87

Abstract: We provide a simple upper bound on the Nash equilibrium payoff set at a fixed discount factor in repeated games with imperfect private monitoring. The bound admits a tractable recursive characterization and can thus be applied “off-the-shelf” to any repeated game. The bound is not tight in general, but it is tight if the stage game is “concave” or if a certain form of observable mixed actions is allowed. We illustrate our results with applications to the repeated prisoners' dilemma and to canonical public goods and oligopoly games.

Keywords: Repeated games; Private monitoring; Recursive methods; Concave games (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:175:y:2018:i:c:p:58-87

DOI: 10.1016/j.jet.2018.01.007

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