Bayesian learning in repeated games of incomplete information

  title={Bayesian learning in repeated games of incomplete information},
  author={John Nachbar},
  journal={Social Choice and Welfare},
Abstract. In Nachbar [20] and, more definitively, Nachbar [22], I argued that, for a large class of discounted infinitely repeated games of complete information (i.e. stage game payoff functions are common knowledge), it is impossible to construct a Bayesian learning theory in which player beliefs are simultaneously weakly cautious, symmetric, and consistent. The present paper establishes a similar impossibility theorem for repeated games of incomplete information, that is, for repeated games… CONTINUE READING