Nonzero-Sum Two-Person Repeated Games with Incomplete Information

Sergiu Hart

(Acrobat PDF file)

Characterization of all equilibria of nonzero-sum two-person repeated games with incomplete information, in the standard one-sided information case. Informally, each such equilibrium is described by a sequence of communications between the players (consisting of information transmission and coordination), leading to some individually rational outcome. Formally, the concept of a bi-martingale is introduced.