SFB 303 Discussion Paper No. B - 305

Author: Balkenborg, Dieter
Title: Evolutionary Stability, Strictness and Repeated Games with Common Interests
Abstract: Strict equilibrium sets generalize the concept of strict equilibrium points to sets. They coincide with the evolutionary stable sets in asymmetric games. In this paper we study strict equilibrium sets of repeated games. For finitely repeated common interest games we show: There is a fixed upper bound on the number of inefficient outcomes that can occur along the outcome paths induced by strict equilibrium sets of the repeated game. This bound depends only on the stage game and is independent of the number of repetitions. But we also show that common interest games are generically the only games with the property that a strict equilibrium set exists in arbitrarily long finite repetitions.
Creation-Date: January 1995
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