Bargaining, Reputation, and Equilibrium Selection in Repeated Games with Contracts
含合约重复博弈中的议价、声誉与均衡选择
Consider a two-person intertemporal bargaining problem in which players choose actions and offers each period, and collect payoffs (as a function of that period's actions) while bargaining proceeds. This can alternatively be viewed as an infinitely repeated game wherein players can offer one another enforceable contracts that govern play for the rest of the game. Theory is silent with regard to how the surplus is likely to be split, because a folk theorem applies. Perturbing…