Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957531 | Journal of Economic Theory | 2007 | 13 Pages |
Abstract
We show that the use of communications to coordinate equilibria generates a Nash-threats folk theorem in two-player games with “almost public” information. The results generalize to the n-person case. However, the two-person case is more difficult because it is not possible to sustain equilibria by comparing the reports of different players, and using these “third parties” to effectively enforce contracts.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Drew Fudenberg, David K. Levine,