Imperfect monitoring and impermanent reputations

Cripps, Martin W.; Mailath, George J.; Samuelson, Larry

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Imperfect monitoring and impermanent reputations

Date

2004

Authors

Cripps, Martin W.

Mailath, George J.

Samuelson, Larry

Abstract

We study the long-run sustainability of reputations in games with imperfect public monitoring. It is impossible to maintain a permanent reputation for playing a strategy that does not play an equilibrium of the game without uncertainty about types. Thus, a player cannot indefinitely sustain a reputation for noncredible behavior in the presence of imperfect monitoring.