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Category > Economics Posted 17 May 2017 My Price 8.00

discount factor

How to calculate the discount factor that makes an infinitely repeated Prison's dilemma game a SPNE? (Sub-game perfect nash equilibrium).

This problem is with a modified tit for tat strategy as follows:

In any given history of the game, we say that a player, say prisoner 1, is in good standing if:

- Is the first period of the game

- On the previous period he played C and prisoner 2 was in good standing

- On the previous period he played C and he was in bad standing

- On the previous period he played D, he was in good standing and prisoner 2 was in bad standing

 

Consider the modified tit-for-tat strategy profile given by “Play C unless you are in good standing and your opponent is in bad standing, in which case you should play D” 

 

Stage game Payoffs are:

C D

C: (4,4) | (0,6)

D: (6,0) | (1,1)

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(15)
Status NEW Posted 17 May 2017 08:05 AM My Price 8.00

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