General Properties of Long-Run Supergames

General Properties of Long-Run Supergames

Supergames are repeated games in which a fixed known finite one-shot game is repeated over and over. Information about the actions chosen at each stage is provided by a signalling technology. This papers surveys the main properties which are valid over this whole class of games.

On the Long-Run Equilibria of a Class of Large Supergames*

Statistical Verification of Probabilistic Long-Run Properties

We present two new statistical algorithms for probabilistic verification of long-run properties. The algorithms use statistical sampling of execution trajectories to verify long-run properties of stochastic discrete-event systems. The algorithms differ in the techniques used to ensure that sample trajectories remain finite, but have similar time complexity. Our work is a significant improvement...

Medium and Long-run Properties of Linguistic Community Evolution

We analyze a novel model of the co-evolution of linguistic community structure and language. Intuitively, agents want to communicate well with others in their linguistic community, and similarly, linguistic communities consist of those agents that can communicate effectively amongst themselves. Absent the effects of comunity structure, the model suffers from poor efficiency in the medium-run. O...

Reexamining the long-run properties of the real interest rate

In the empirical literature, stationary and nonstationary behavior has been reported for the U.S. real interest rate over di¤erent time periods. We examine its long-run properties, through estimation of the order of integration, and interpret the results in light of the Taylor rule for monetary policy. When concentrating on the post-October 1987 period, our analysis suggests that the business c...