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In an irreducible stochastic game, no single player can prevent the stochas-tic process on states from being irreducible, so the other players can ensure that the current state has little effect on events in the distant future. This paper provides a sufficient condition for the folk theorem in irreducible stochastic games with imperfect public monitoring,(More)
This paper studies N player infinitely repeated games with imperfect private monitoring where the discount factor is close to unity. Ely and Valimaki [4] (written as EV below) construct a strategy which makes players indifferent among their actions in each period and show the folk theorem in prisoner's dilemma games with two players when monitoring is(More)
The present paper provides a limit characterization of the payoff set supported by belief-free equilibria in repeated games with private monitoring, as the discount factor approaches one and the noise on private information vanishes. Contrary to the conjecture by Ely, Hörner, and Olszewski (2005), in many of the three-or-more player games, the payoff set is(More)
for helpful comments, and to NSF grants SES-03-14713 and SES-06-646816 for financial support. Abstract: The theory of learning in games studies how, which and what kind of equilibria might arise as a consequence of a long-run non-equilibrium process of learning, adaptation and/or imitation. If agents' strategies are completely observed at the end of each(More)
We investigate whether players in a long-run relationship can maintain cooperation when the details of the underlying game are unknown. Specifically , we consider a new class of repeated games with private monitoring, where an unobservable state of the world influences the payoff functions and/or the monitoring structure. Each player privately learns the(More)
In two-sided matching markets in which some doctors form couples, we present an algorithm that finds all the stable matchings whenever one exists, and otherwise shows that there is no stable matching. Extending the methodology of Echenique and Yenmez (2006), we characterize the set of stable matchings as the fixed points of a monotone decreasing function(More)