Delayed Perfect Monitoring in Repeated Games

• Autores: Markus Kinateder
• Localización: Working Papers ( Universidad de Navarra. Facultad de Ciencias Económicas y Empresariales ), Nº. 18, 2009
• Idioma: inglés
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• Resumen

  • Delayed perfect monitoring in an infinitely repeated discounted game is studied. A player perfectly observes any other player�s action choice with a fixed, but finite delay. The observational delays between different pairs of players are heterogeneous and asymmetric. The Folk Theorem extends to this setup, although for a range of discount factors strictly below 1, the set of belief-free equilibria is reduced under certain conditions. This model applies to any situation in which there is a heterogeneous delay between information generation and the players� reaction to it.