Renegotiation and Symmetry in Repeated Games

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dc.contributor.author Abrea, Dilip en_US
dc.contributor.author Pearce, David en_US
dc.contributor.author Stacchetti, Ennio en_US
dc.date.accessioned 2006-04-10T15:39:12Z
dc.date.available 2006-04-10T15:39:12Z
dc.date.issued 1993-08 en_US
dc.identifier.citation Abrea Dilip, , Pearce David, , Stacchetti Ennio, (1993/08)."Renegotiation and Symmetry in Repeated Games." Journal of Economic Theory 60(2): 217-240. <http://hdl.handle.net/2027.42/30655> en_US
dc.identifier.uri http://www.sciencedirect.com/science/article/B6WJ3-45PTR0K-X/2/9b94f9a0eda1d2253c5117f2c5633025 en_US
dc.identifier.uri http://hdl.handle.net/2027.42/30655
dc.description.abstract The paper derives a theory of renegotiation-proofness in symmetric repeated games based on a notion of "equal bargaining power." According to consistent bargaining equilibrium a player can mount a credible objection to a continuation equilibrium in which he receives a particular expected present discounted value, if there are other self-enforcing agreements that never give any player such a low continuation value after any history. The definition does not imply strongly symmetric solutions. But under modest assumptions, consistent bargaining equilibria of infinitely repeated games with perfect monitoring are strongly symmetric. Such solutions have an unusually elementary characterization. Journal of Economic Literature Classification Numbers: C7, C72. en_US
dc.format.extent 1055299 bytes
dc.format.extent 3118 bytes
dc.format.mimetype application/pdf
dc.format.mimetype text/plain
dc.language.iso en_US
dc.publisher Elsevier en_US
dc.title Renegotiation and Symmetry in Repeated Games en_US
dc.type Article en_US
dc.rights.robots IndexNoFollow en_US
dc.subject.hlbsecondlevel Economics en_US
dc.subject.hlbtoplevel Business en_US
dc.description.peerreviewed Peer Reviewed en_US
dc.contributor.affiliationum University of Michigan, Ann Arbor, Michigan 48109 en_US
dc.contributor.affiliationother Princeton University, Princeton, New Jersey 08540 en_US
dc.contributor.affiliationother Yale University, New Haven, Connecticut 06520 en_US
dc.description.bitstreamurl http://deepblue.lib.umich.edu/bitstream/2027.42/30655/1/0000297.pdf en_US
dc.identifier.doi http://dx.doi.org/10.1006/jeth.1993.1042 en_US
dc.identifier.source Journal of Economic Theory en_US
dc.owningcollname Interdisciplinary and Peer-Reviewed
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