The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Nov, 2006, Volume 74, Issue 6
https://doi.org/10.1111/j.1468-0262.2006.00717.x
p. 1499-1544
Johannes Hörner, Wojciech Olszewski
We prove the folk theorem for discounted repeated games under private, almost‐perfect monitoring. Our result covers all finite, ‐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.
