WHEN AND HOW THE PUNISHMENT MUST FIT THE CRIME

B-Tier
Journal: International Economic Review
Year: 2017
Volume: 58
Issue: 2
Pages: 315-330

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In repeated normal‐form (simultaneous‐move) games, simple penal codes (Abreu, Journal of Economic Theory 39(1) (1986), 191–225; and Econometrica 56(2) (1988), 383–96) permit an elegant characterization of the set of subgame‐perfect outcomes. We show that in repeated extensive‐form games such a characterization no longer obtains. By means of examples, we identify two types of settings in which a subgame‐perfect outcome may be supported only by a profile with the property that the continuation play after a deviation is tailored not only to the identity of the deviator but also to the nature of the deviation.

Technical Details

RePEc Handle
repec:wly:iecrev:v:58:y:2017:i:2:p:315-330
Journal Field
General
Author Count
3
Added to Database
2026-01-25