On the theory of repeated games with private information. II: Revelation through communication (Q810389)

We consider repeated games with private information and with discounting, where we allow players to communicate, i.e., to give messages strategically. Similarly to \textit{D. Abreu}, \textit{D. Pearce} and \textit{E. Stacchetti} [J. Econ. Theory 39, 251-269 (1986; Zbl 0606.90019); Econometrica 58, No.5, 1041-1063 (1990; Zbl 0735.90086)], we can characterize supergame-equilibrium allocations with truthful revelation. In the two-player case, efficiency cannot be attained with supergame equilibria with truthful revelation.