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dc.contributor.authorBernergÄrd, Axelen_US
dc.date.accessioned2012-02-14en_US
dc.date.accessioned2012-03-28T13:02:50Z-
dc.date.available2012-03-28T13:02:50Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/56087-
dc.description.abstractThe folk theorems for infinitely repeated games with discounting presume that the discount rate between two successive periods is constant. Following the literature on quasi-exponential or hyperbolic discounting, I model the repeated interaction between two or more decision makers in a way that allows present-biased discounting where the discount factor between two successive periods increases with the waiting time until the periods are reached. I generalize Fudenberg and Maskin's (1986) and Abreu, Dutta and Smith's (1994) folk theorems for repeated games with discounting so that they apply when discounting is present-biased. Patience is then represented either by the discount factor between the next and the current period or, alternatively, by the sum of the discount factors for all future periods.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 736en_US
dc.subject.jelC73en_US
dc.subject.ddc330en_US
dc.subject.keywordfolk theoremen_US
dc.subject.keywordpresent-biaseden_US
dc.subject.keyworddiscountingen_US
dc.subject.keywordhyperbolicen_US
dc.subject.stwWiederholte Spieleen_US
dc.subject.stwZeitkonsistenzen_US
dc.subject.stwFolk-Theoremen_US
dc.subject.stwSpieltheorieen_US
dc.titleFolk theorems for present-biased playersen_US
dc.typeWorking Paperen_US
dc.identifier.ppn663470307en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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