Covenants and reputations
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Publication:2460165
Consider an infinitely repeated Prisoner's dilemma with opting out, played by a fixed, finite set of players under random matching. The paper finds the set of correlated equilibrium payoffs for this game. The paper then interprets the results in light of classical British political philosophy (Hobbes, Hume). A series of 1000-period simulations illustrate the results.
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Cites work
- Agreeing to disagree
- Cooperation in the Prisoner's Dilemma with Anonymous Random Matching
- Correlated Equilibrium as an Expression of Bayesian Rationality
- Errors of judgment and reporting in a law merchant system
- Simulating Society
- Social Norms and Community Enforcement
- Some experimental games
- Subjectivity and correlation in randomized strategies
- The evolution of cooperation
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