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The Folk Theorem in Repeated Games With Anonymous Random Matching

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  • Joyee Deb
  • Takuo Sugaya
  • Alexander Wolitzky

Abstract

We prove the folk theorem for discounted repeated games with anonymous random matching. We allow non‐uniform matching, include asymmetric payoffs, and place no restrictions on the stage game other than full dimensionality. No record‐keeping or communication devices—including cheap talk communication and public randomization—are necessary.

Suggested Citation

  • Joyee Deb & Takuo Sugaya & Alexander Wolitzky, 2020. "The Folk Theorem in Repeated Games With Anonymous Random Matching," Econometrica, Econometric Society, vol. 88(3), pages 917-964, May.
    • Handle: RePEc:wly:emetrp:v:88:y:2020:i:3:p:917-964
    DOI: 10.3982/ECTA16680
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    Cited by:

    1. S. Nageeb Ali & David A. Miller, 2020. "Communication and Cooperation in Markets," Papers 2005.09839, arXiv.org.
    2. Takuo Sugaya, 2022. "Folk Theorem in Repeated Games with Private Monitoring," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(4), pages 2201-2256.
    3. Parikshit Ghosh & Debraj Ray, 2023. "The Social Equilibrium of Relational Arrangements," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 179(3-4), pages 579-615.
    4. Sawa, Ryoji, 2021. "A stochastic stability analysis with observation errors in normal form games," Games and Economic Behavior, Elsevier, vol. 129(C), pages 570-589.
    5. Liu, Ce, 2023. "Stability in repeated matching markets," Theoretical Economics, Econometric Society, vol. 18(4), November.
    6. Sugaya, Takuo & Wolitzky, Alexander, 2023. "Bad apples in symmetric repeated games," Theoretical Economics, Econometric Society, vol. 18(4), November.

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