How fast do equilibrium payoff sets converge in repeated games?

A-Tier
Journal: Journal of Economic Theory
Year: 2016
Volume: 165
Issue: C
Pages: 332-359

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

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

Abstract

We provide tight bounds on the rate of convergence of the equilibrium payoff sets for repeated games under both perfect and imperfect public monitoring. The distance between the equilibrium payoff set and its limit vanishes at rate (1−δ)1/2 under perfect monitoring, and at rate (1−δ)1/4 under imperfect monitoring. For strictly individually rational payoff vectors, these rates improve to 0 (i.e., all strictly individually rational payoff vectors are exactly achieved as equilibrium payoffs for δ high enough) and (1−δ)1/2, respectively.

Technical Details

RePEc Handle
repec:eee:jetheo:v:165:y:2016:i:c:p:332-359
Journal Field
Theory
Author Count
2
Added to Database
2026-01-29