Characterizing the Limit Set of PPE Payoffs with Unequal Discounting
نویسندگان
چکیده
We study repeated games with imperfect public monitoring and unequal discounting. We characterize the limit set of perfect and public equilibrium payoffs as discount factors converge to 1 with the relative patience between players fixed. We show that the pairwise and individual full rank conditions are suffi cient for the folk theorem. ∗[email protected] †The author is thankful to Stephen Morris and Satoru Takahashi for their helpful guidance. I am also grateful to Dilip Abreu, Chiaki Hara, Johannes Hörner, Yuichiro Kamada, Akihiko Matsui, Larry Samuelson, Tadashi Sekiguchi, and Katsutoshi Wakai for their valuable comments and to participants of 2008 Summer Workshop in Economic Theory. The usual disclaimer of course applies.
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تاریخ انتشار 2014