Artikel
Communication and cooperation in repeated games
We study the role of communication in repeated games with private monitoring. We first show that without communication, the set of Nash equilibrium payoffs in such games is a subset of the set of ε-coarse correlated equilibrium payoffs (ε-CCE) of the underlying one-shot game. The value of ε depends on the discount factor and the quality of monitoring. We then identify conditions under which there are equilibria with "cheap talk" that result in nearly efficient payoffs outside the set ε-CCE. Thus, in our model, communication is necessary for cooperation.
- Sprache
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Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 14 ; Year: 2019 ; Issue: 2 ; Pages: 513-553 ; New Haven, CT: The Econometric Society
- Klassifikation
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Wirtschaft
Stochastic and Dynamic Games; Evolutionary Games; Repeated Games
- Thema
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Repeated games
private monitoring
communication
- Ereignis
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Geistige Schöpfung
- (wer)
-
Awaya, Yu
Krishna, Vijay
- Ereignis
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Veröffentlichung
- (wer)
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The Econometric Society
- (wo)
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New Haven, CT
- (wann)
-
2019
- DOI
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doi:10.3982/TE3049
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Awaya, Yu
- Krishna, Vijay
- The Econometric Society
Entstanden
- 2019
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