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Repeated Games and ReputationsLong-Run Relationships$
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George J. Mailath and Larry Samuelson

Print publication date: 2006

Print ISBN-13: 9780195300796

Published to Oxford Scholarship Online: January 2007

DOI: 10.1093/acprof:oso/9780195300796.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 08 December 2021

 Private Strategies in Games with Imperfect Public Monitoring

 Private Strategies in Games with Imperfect Public Monitoring

(p.329) 10 Private Strategies in Games with Imperfect Public Monitoring
Repeated Games and Reputations

George J. Mailath (Contributor Webpage)

Larry Samuelson (Contributor Webpage)

Oxford University Press

This chapter provides examples in which private strategies, where a player’s behavior can depend nontrivially on his or her own privately observed past action, open up new payoff possibilities that cannot be achieved with public strategies, even though the monitoring is public. Equilibria in private strategies need not have a recursive structure. The chapter shows that belief-free equilibria are nonetheless relatively tractable.

Keywords:   belief-free equilibria, private strategies, public monitoring

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