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Maintaining a Reputation when Strategies are Imperfectly Observed.
- Source :
- Review of Economic Studies; Jul92, Vol. 59 Issue 3, p561, 19p, 1 Diagram
- Publication Year :
- 1992
-
Abstract
- This paper studies reputation effects in games with a single long-run player whose choice of stage-game strategy is imperfectly observed by his opponents. We obtain lower and upper bounds on the long-game player's payoff in any Nash equilibrium of the game. If the long-run player's stage-game strategy is statistically identified by the observed outcomes, then for generic payoffs the upper and lower bounds both converge, as the discount factor tends to J. to the long-run player's Stackelberg payoff, which is the most he could obtain by publicly committing himself to any strategy. [ABSTRACT FROM AUTHOR]
- Subjects :
- ECONOMIC equilibrium
GAME theory
ECONOMIC policy
ECONOMICS
BRIBERY
AMUSEMENTS
CRIME
Subjects
Details
- Language :
- English
- ISSN :
- 00346527
- Volume :
- 59
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Review of Economic Studies
- Publication Type :
- Academic Journal
- Accession number :
- 4619226
- Full Text :
- https://doi.org/10.2307/2297864