The Folk Theorem for Games with Private Almost-Perfect Monitoring
Johannes Hörner, Wojciech Olszewski
Econometrica · 2006 · Volume 74 · Issue 6
DOI: 10.1111/j.1468-0262.2006.00717.x
Abstract
We prove the folk theorem for discounted repeated games under private, almost-perfect monitoring. Our result covers all finite,n-player games that satisfy the usual full-dimensionality condition. Mixed strategies are allowed in determining the individually rational payoffs. We assume no cheap-talk communication between players and no public randomization device.
Keywords
Repeated games, private monitoring, folk theorem
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