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  1. 117 経済学研究科・経済学部
  2. 70 日本経済国際共同センター
  3. Discussion Paper F series (in English)
  1. 0 資料タイプ別
  2. 60 レポート類
  3. 061 ディスカッションペーパー

The Folk Theorem with Private Monitoring and Uniform Sustainability

http://hdl.handle.net/2261/2360
http://hdl.handle.net/2261/2360
1fa35114-ca82-47c6-9c95-6bb7a945f7ed
Item type テクニカルレポート / Technical Report(1)
公開日 2012-01-13
タイトル
タイトル The Folk Theorem with Private Monitoring and Uniform Sustainability
言語
言語 eng
キーワード
主題Scheme Other
主題 Repeated Prisoner-Dilemma Games
キーワード
主題Scheme Other
主題 Private Monitoring Conditional Independence
キーワード
主題Scheme Other
主題 Folk Theorem
キーワード
主題Scheme Other
主題 Uniform Sustainability
キーワード
主題Scheme Other
主題 Zero Likelihood Ratio Condition
キーワード
主題Scheme Other
主題 Limited Knowledge
資源タイプ
資源 http://purl.org/coar/resource_type/c_18gh
タイプ technical report
アクセス権
アクセス権 metadata only access
アクセス権URI http://purl.org/coar/access_right/c_14cb
著者 Matsushima, Hitoshi

× Matsushima, Hitoshi

WEKO 96602

Matsushima, Hitoshi

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著者所属
著者所属 University of Tokyo
抄録
内容記述タイプ Abstract
内容記述 This paper investigates infinitely repeated prisoner-dilemma games where the discount factor is less than but close to 1. We assume that monitoring is truly imperfect and truly private, there exist no public signals and no public randomization devices, and players cannot communicate and use only pure strategies. We show that implicit collusion can be sustained by Nash equilibria under a mild condition. We show that the Folk Theorem holds when players’ private signals are conditionally independent. These results are permissive, because we require no conditions concerning the accuracy of private signals such as the zero likelihood ratio condition. We also investigate the situation in which players play a Nash equilibrium of a machine game irrespective of their initial states, i.e., they play a uniform equilibrium. We show that there exists a unique payoff vector sustained by a uniform equilibrium, i.e., a unique uniformly sustainable payoff vector, which Pareto-dominates all other uniformly sustainable payoff vectors. We characterize this payoff vector by using the values of the minimum likelihood ratio. We show that this payoff vector is efficient if and only if the zero likelihood ratio condition is satisfied. These positive results hold even if each player has limited knowledge on her opponent’s private signal structure. Keywords: Repeated Prisoner-Dilemma Games, Private Monitoring, Conditional Independence, Folk Theorem, Uniform Sustainability, Zero Likelihood Ratio Condition, Limited Knowledge.
内容記述
内容記述タイプ Other
内容記述 This paper was revised as Discussion Paper 2001-CF-123.
内容記述
内容記述タイプ Other
内容記述 本文フィルはリンク先を参照のこと
書誌情報 Discussion paper series. CIRJE-F

巻 CF-84, 発行日 2000-07
書誌レコードID
収録物識別子タイプ NCID
収録物識別子 AA11450569
フォーマット
内容記述タイプ Other
内容記述 application/pdf
日本十進分類法
主題Scheme NDC
主題 330
出版者
出版者 日本経済国際共同センター
出版者別名
Center for International Research on the Japanese Economy
関係URI
識別子タイプ URI
関連識別子 http://www.cirje.e.u-tokyo.ac.jp/research/dp/2000/2000cf84.pdf
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