On the limit perfect public equilibrium payoff set in repeated and stochastic games

B-Tier
Journal: Games and Economic Behavior
Year: 2014
Volume: 85
Issue: C
Pages: 70-83

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

This paper provides a dual characterization of the existing ones for the limit set of perfect public equilibrium payoffs in a class of finite stochastic games (in particular, repeated games) as the discount factor tends to one. As a first corollary, the folk theorems of Fudenberg et al. (1994), Kandori and Matsushima (1998) and Hörner et al. (2011) obtain. As a second corollary, it is shown that this limit set of payoffs is a convex polytope when attention is restricted to perfect public equilibria in pure strategies. This result fails for mixed strategies, even when attention is restricted to two-player repeated games.

Technical Details

RePEc Handle
repec:eee:gamebe:v:85:y:2014:i:c:p:70-83
Journal Field
Theory
Author Count
3
Added to Database
2026-01-29