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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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 The Folk Theorem with Imperfect Public Monitoring

 The Folk Theorem with Imperfect Public Monitoring

(p.293) 9 The Folk Theorem with Imperfect Public Monitoring
Repeated Games and Reputations

George J. Mailath (Contributor Webpage)

Larry Samuelson (Contributor Webpage)

Oxford University Press

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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