The Folk Theorem with Imperfect Public Monitoring
The Folk Theorem with Imperfect Public Monitoring
This chapter shows that in many situations with patient players, the payoffs bounds from Chapter 8 are tight. It then proves various folk theorems for games of public monitoring, including games with a product structure and extensive form games. The chapter discusses the enforceability, identifiability, and rank conditions on the monitoring technology required for the folk theorem, and finally considers games of symmetric incomplete information.
Keywords: enforceability, folk theorem, identifiability, product structure, public monitoring, rank conditions, symmetric incomplete information
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