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Nonzero-Sum Two-Person Repeated Games with Incomplete Information

1985; Institute for Operations Research and the Management Sciences; Volume: 10; Issue: 1 Linguagem: Inglês

10.1287/moor.10.1.117

1526-5471

Sergiu Hart,

Economic theories and models

Characterization of all equilibria of nonzero-sum two-person repeated games with incomplete information, in the standard one-sided information case. Informally, each such equilibrium is described by a sequence of communications between the players (consisting of information transmission and coordination), leading to some individually rational agreement. Formally, the concept of a bi-martingale is introduced.