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• W3123213776 abstract "Abstract Various papers have presented folk theorem results for repeated games with private monitoring that rely on belief-free equilibria. I show that these equilibria are not robust against small perturbations in the behavior of potential opponents. Specifically, I show that essentially none of the belief-free equilibria is evolutionarily stable, and that in generic games none of these equilibria is neutrally stable. Moreover, in a large family of games (which includes many public good games), the belief-free equilibria fail to satisfy even a very mild stability refinement." @default.
• W3123213776 created "2021-02-01" @default.
• W3123213776 creator A5074262149 @default.
• W3123213776 date "2017-03-01" @default.
• W3123213776 modified "2023-10-12" @default.
• W3123213776 title "Instability of belief-free equilibria" @default.
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• W3123213776 doi "https://doi.org/10.1016/j.jet.2017.01.001" @default.
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