Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957713 | Journal of Economic Theory | 2007 | 32 Pages |
Abstract
We demonstrate that efficiency is achievable in a certain class of N player repeated games with private, almost perfect monitoring. Our equilibrium requires only one period memory and can be implemented by two state automata. Furthermore, we show that this efficiency result holds with any degree of accuracy of monitoring if private signals are hemiindependent. Whereas most existing research focuses on two player cases or only a special example of N player games, our results are applicable to a wide range of N player games of economic relevance, such as trading goods games and price-setting oligopolies.
Related Topics
Social Sciences and Humanities
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Economics and Econometrics
Authors
Yuichi Yamamoto,