EconPapers    
Economics at your fingertips  
 

Continuous time limits of repeated games with imperfect public monitoring

Drew Fudenberg and David Levine

Chapter 17 in A Long-Run Collaboration on Long-Run Games, 2008, pp 369-388 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractIn a repeated game with imperfect public information, the set of equilibria depends on the way that the distribution of public signals varies with the players' actions. Recent research has focused on the case of “frequent monitoring,” where the time interval between periods becomes small. Here we study a simple example of a commitment game with a long-run and short-run player in order to examine different specifications of how the signal distribution depends upon period length. We give a simple criterion for the existence of efficient equilibrium, and show that the efficiency of the equilibria that can be supported depends in an important way on the effect of the player's actions on the variance of the signals, and whether extreme values of the signals are “bad news” of “cheating” behavior, or “good news” of “cooperative” behavior.

Keywords: Long-Run Players; Limit Games; Robustness; Equilibrium; Reputation Effects; Repeated Games (search for similar items in EconPapers)
JEL-codes: I10 (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789812818478_0017 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789812818478_0017 (text/html)
Ebook Access is available upon purchase.

Related works:
Journal Article: Continuous Time Limits of Repeated Games with Imperfect Public Monitoring (2007) Downloads
Working Paper: Continuous Time Limits of Repeated Games with Imperfect Public Monitoring (2007) Downloads
Working Paper: Continuous Time Limits of Repeated Games with Imperfect Public Monitoring (2007) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789812818478_0017

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().

 
Page updated 2025-03-23
Handle: RePEc:wsi:wschap:9789812818478_0017