英文标题:
《Cooperation under Incomplete Information on the Discount Factors》
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作者:
Cy Maor and Eilon Solan
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最新提交年份:
2014
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英文摘要:
In repeated games, cooperation is possible in equilibrium only if players are sufficiently patient, and long-term gains from cooperation outweigh short-term gains from deviation. What happens if the players have incomplete information regarding each other\'s discount factors? In this paper we look at repeated games in which each player has incomplete information regarding the other player\'s discount factor, and ask when full cooperation can arise in equilibrium. We provide necessary and sufficient conditions that allow full cooperation in equilibrium that is composed of grim trigger strategies, and characterize the states of the world in which full cooperation occurs. We then ask whether these \"cooperation events\" are close to those in the complete information case, when the information on the other player\'s discount factor is \"almost\" complete.
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中文摘要:
在重复博弈中,只有当参与者有足够的耐心,并且合作的长期收益大于偏离的短期收益时,合作才有可能达到均衡。如果玩家之间的折扣系数信息不完整,会发生什么?在本文中,我们研究了重复博弈,其中每个参与者都有关于另一个参与者折扣因子的不完全信息,并询问在均衡中何时可以出现完全合作。我们提供了必要和充分的条件,允许在由严峻的触发策略组成的平衡中进行充分合作,并描述了进行充分合作的世界各国的特征。然后,我们询问这些“合作事件”是否接近于完全信息情况下的事件,而另一方的折扣因子信息“几乎”完整。
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分类信息:
一级分类:Quantitative Finance 数量金融学
二级分类:Economics 经济学
分类描述:q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学,包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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一级分类:Mathematics 数学
二级分类:Probability 概率
分类描述:Theory and applications of probability and stochastic processes: e.g. central limit theorems, large deviations, stochastic differential equations, models from statistical mechanics, queuing theory
概率论与随机过程的理论与应用:例如中心极限定理,大偏差,随机微分方程,统计力学模型,排队论
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