A robust folk theorem for the repeated prisoner's dilemma
Ely, Jeffrey C. and Välimäki, Juuso (2002) A robust folk theorem for the repeated prisoner's dilemma. Journal of Economic Theory, 102, (1), 84-105. (doi:10.1006/jeth.2000.2774).
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We prove the folk theorem for the Prisoner's dilemma using strategies that are robust to private monitoring. From this follows a limit folk theorem: when players are patient and monitoring is sufficiently accurate, (but private and possibly independent) any feasible individually rational payoff can be obtained in sequential equilibrium. The strategies used can be implemented by finite (randomizing) automata. Journal of Economic Literature Classification Numbers: C72, C73, D82.
|Subjects:||H Social Sciences > H Social Sciences (General)|
|Divisions:||University Structure - Pre August 2011 > School of Social Sciences > Economics
|Date Deposited:||15 May 2006|
|Last Modified:||02 Mar 2012 13:06|
|Contact Email Address:||email@example.com|
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