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We propose a new approach for running lab experiments on indefinitely repeated games with high continuation probability.
We report results obtained from the indefinitely repeated prisoner's dilemma with a continuation probability of δ=".95.95
Now what we've shown is that the grim trigger works provided δ > 1/3, and δ being bigger than 1/3 doesn't seem like a very large continuation probability.
Among initiators, the 5-year continuation probability was 48.5%.
Table 4 presents results for the provinces, with the exception of Québec (Québec was excluded, as explained above).t Compared to Ontario (the omitted province), only Newfoundland and Labrador has a higher long-term continuation probability, with all other provinces being lower than Ontario.
The fragment lengths are geometrically distributed with continuation probability ε and minimum length 1.
Similar(51)
The creditor always accepts the liquidation proposal and accepts continuation with probability (p^r).
The second thing we've learned, however, is for this to work we need δ > 1/3, we need the probability continuation to be bigger than 1/3.
So the specific lesson for Prisoner's Dilemma and the grim trigger strategy is we need δ, the probability continuation, to be bigger than 1/3.
Here, we provide computational methodology to use parameter continuation in determining probability density functions of systems of stochastic partial differential equations near fixed points, under a small noise approximation.
Prerequisites: MATH G4151 Analysis & Probability I. Continuation of MATH G4152x (see fall listing).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com