Reputation Effects with Imperfect Monitoring in Linear Quadratic Models
Oxford Economic Papers, 1993, vol. 45, issue 1, 42-57
The author solves for the reputational equilibrium in a class of linear quadratic Gaussian dynamic games with noisy control. This equilibrium is particularly simple to describe and tractable. There is imperfect monitoring but a sequential equilibrium is found where the uninformed agents always smoothly learn the type of the informed agent. Reputation effects are temporary in the infinite horizon case for positive discount rates; as the discount factor tends to unity there is a permanent reputation. Copyright 1993 by Royal Economic Society.
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