title   
  

Bounded memory folk theorem

Barlo, Mehmet and Carmona, Guilherme and Sabourian, Hamid (2016) Bounded memory folk theorem. Journal of Economic Theory, 163 . pp. 728-774. ISSN 0022-0531 (Print) 1095-7235 (Online)

This is the latest version of this item.

[img]PDF - Registered users only - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
682Kb

Official URL: http://dx.doi.org/10.1016/j.jet.2016.03.001

Abstract

We show that the Folk Theorem holds for n-player discounted repeated games with bounded-memory strategies. Our result requires each player's payoff to be strictly above the minmax payoff but requires neither time-dependent strategies, nor public randomization, nor communication. The type of strategies we employ to establish our result turn out to have new features that may be important in understanding repeated interactions.

Item Type:Article
Uncontrolled Keywords:Repeated Games; Memory; Bounded Rationality; Folk Theorem
Subjects:H Social Sciences > HB Economic Theory > HB135-147 Mathematical economics. Quantitative methods
H Social Sciences > HB Economic Theory
ID Code:29335
Deposited By:Mehmet Barlo
Deposited On:16 May 2016 10:05
Last Modified:16 May 2016 10:05

Repository Staff Only: item control page