Cooperation in indefinitely repeated helping games: Existence and characterization

Experiments that investigate the spontaneous emergence of money in laboratory societies rely on indefinitely repeated helping games with random matching (Camera et al., 2013; Camera and Casari, 2014). An important open issue is lack a general proof existence an equilibrium capable supporting efficient allocation under private monitoring, without money. Here, we fill this gap by offering proof, as well characterizing non-monetary equilibrium. This technique can be extended to study simultaneous actions.