Equilibrium Characterization of Repeated Games with Private Monitoring

2018 ◽  
Author(s):  
Lei Gao

2011 ◽  
Author(s):  
Richard P. McLean ◽  
Ichiro Obara ◽  
Andrew Postlewaite


2014 ◽  
Vol 153 ◽  
pp. 191-212 ◽  
Author(s):  
Richard McLean ◽  
Ichiro Obara ◽  
Andrew Postlewaite




2002 ◽  
Vol 102 (1) ◽  
pp. 1-15 ◽  
Author(s):  
Michihiro Kandori


2009 ◽  
Vol 144 (2) ◽  
pp. 802-824 ◽  
Author(s):  
Yuichi Yamamoto
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2013 ◽  
Vol 148 (5) ◽  
pp. 1891-1928 ◽  
Author(s):  
Takuo Sugaya ◽  
Satoru Takahashi


Econometrica ◽  
1998 ◽  
Vol 66 (3) ◽  
pp. 597 ◽  
Author(s):  
Olivier Compte


2019 ◽  
Vol 11 (1) ◽  
pp. 1-43 ◽  
Author(s):  
Masaki Aoyagi ◽  
V. Bhaskar ◽  
Guillaume R. Fréchette

This paper uses a laboratory experiment to study the effect of the monitoring structure on the play of the infinitely repeated prisoner’s dilemma. Keeping the strategic form of the stage game fixed, we examine the behavior of subjects when information about past actions is perfect (perfect monitoring), noisy but public (public monitoring), and noisy and private (private monitoring). We find that the subjects sustain cooperation in every treatment, but that their strategies differ across the three treatments. Specifically, the strategies under imperfect monitoring are both more complex and more lenient than those under perfect monitoring. The results show how the changes in strategies across monitoring structures mitigate the effect of noise in monitoring on efficiency. (JEL C72, C73, C92, D82, D83)



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