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A Note on Renegotiation in Repeated Games [Games Econ. Behav. 1 (1989) 327 360]

Author

Listed:
  • Michael Guenther

    (University of Bielefeld, Germany)

  • Christoph Kuzmics

    (University of Graz, Austria)

  • Antoine Salomon

    (Universit Paris-Dauphine, France)

Abstract

In Renegotiation in Repeated Games [1989], J. Farell and E. Maskin present, among other results, sufficient conditions for payoffs to be weakly renegotiation-proof . We show that a step in the corresponding proof is not correct by giving a counterexample. We then provide a correct proof with slightly more demanding sufficient conditions.

Suggested Citation

  • Michael Guenther & Christoph Kuzmics & Antoine Salomon, 2018. "A Note on Renegotiation in Repeated Games [Games Econ. Behav. 1 (1989) 327 360]," Graz Economics Papers 2018-16, University of Graz, Department of Economics.
    • Handle: RePEc:grz:wpaper:2018-16
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    References listed on IDEAS

    as
    1. Farrell, Joseph & Maskin, Eric, 1989. "Renegotiation in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 327-360, December.
    2. Fudenberg, Drew & Maskin, Eric, 1991. "On the dispensability of public randomization in discounted repeated games," Journal of Economic Theory, Elsevier, vol. 53(2), pages 428-438, April.
    3. Evans, Robert & Maskin, Eric, 1989. "Efficient renegotiation--proof equilibria in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 361-369, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    (Weak) Renegotiation-Proofness; Infinitely Repeated Games;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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