提问:
infinitely repeated game with discounting中的“discounting”在博弈论中是什么意思?我知道不带discounting的意思是无限重复博弈,加了with discounting这个限定词之后是啥意思呢?小弟才疏学浅,特此向版内各位博弈论大牛们求教!还望各位知无不言,言无不尽!甚为感谢!
原文摘引:
We consider an infinitely repeated bank-borrower relationship with moral hazard and universal risk neutrality, and explore the ramifications of credit contract duration when the two well-known benefits of long-term contracting-learning and improved risk sharing-are absent. Our objectives are twofold. The first is to analyze an infinitely repeated game with discounting in a credit market context. We thus relate the theory of repeated games to financial intermediation theory, particularly to issues of moral hazard and collateral-related distortions.
原文出处:
Arnoud W. A. Boot and Anjan V. Thakor, 1994:《Moral Hazard and Secured Lending in an Infinitely Repeated Credit Market Game》,International Economic Review: Vol. 35, No. 4 , pp. 899-920.