Speaker: Prof Alex Wolitzky

Affiliation: Massachusetts Institute of Technology

Location: Room 104 - Chamberlain Building (#35), UQ St Lucia Campus.

Online via Zoom: https://uqz.zoom.us/j/84008636651


Motivated by the problem of sustaining cooperation in large communities with limited information, we analyze the relationship between population size, discounting, and monitoring in repeated games with individual-level noise. We identify the ratio of the discount rate and the per-capita channel capacity of the monitoring structure as a key determinant of the possibility of cooperation. If this ratio is large, cooperation is impossible: all repeated-game Nash equilibrium payoffs are consistent with approximately myopic play. Conversely, if this ratio is small and the monitoring structure is given by random monitoring, where each player is monitored with the same probability in every period, cooperation is possible: a folk theorem holds. Moreover, if attention is restricted to linear perfect public equilibria (which model collective incentive-provision), cooperation is possible only under much more severe parameter restrictions.

About the presenter's meeting

If you would like to meet with Prof Wolitzky please contact: Dr Zachary Breig

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