{"title":"重复游戏中的监控与折扣","authors":"Takuo Sugaya, Alexander Wolitzky","doi":"10.3982/ECTA20206","DOIUrl":null,"url":null,"abstract":"<p>We study how discounting and monitoring jointly determine whether cooperation is possible in repeated games with imperfect (public or private) monitoring. Our main result provides a simple bound on the strength of players' incentives as a function of discounting, monitoring precision, and on-path payoff variance. We show that the bound is tight in the low-discounting/low-monitoring double limit, by establishing a public-monitoring folk theorem where the discount factor and the monitoring structure can vary simultaneously.</p>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":null,"pages":null},"PeriodicalIF":6.6000,"publicationDate":"2023-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Monitoring versus Discounting in Repeated Games\",\"authors\":\"Takuo Sugaya, Alexander Wolitzky\",\"doi\":\"10.3982/ECTA20206\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>We study how discounting and monitoring jointly determine whether cooperation is possible in repeated games with imperfect (public or private) monitoring. Our main result provides a simple bound on the strength of players' incentives as a function of discounting, monitoring precision, and on-path payoff variance. We show that the bound is tight in the low-discounting/low-monitoring double limit, by establishing a public-monitoring folk theorem where the discount factor and the monitoring structure can vary simultaneously.</p>\",\"PeriodicalId\":50556,\"journal\":{\"name\":\"Econometrica\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":6.6000,\"publicationDate\":\"2023-10-03\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Econometrica\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.3982/ECTA20206\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Econometrica","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.3982/ECTA20206","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
We study how discounting and monitoring jointly determine whether cooperation is possible in repeated games with imperfect (public or private) monitoring. Our main result provides a simple bound on the strength of players' incentives as a function of discounting, monitoring precision, and on-path payoff variance. We show that the bound is tight in the low-discounting/low-monitoring double limit, by establishing a public-monitoring folk theorem where the discount factor and the monitoring structure can vary simultaneously.
期刊介绍:
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