Folk Theorem

GPTKB entity

Statements (22)
Predicate Object
gptkbp:instanceOf gptkb:mathematical_concept
gptkbp:appliesTo repeated games
gptkbp:assumes perfect monitoring
gptkbp:describes possible equilibrium payoffs in repeated games
gptkbp:field game theory
gptkbp:firstFormalizedBy gptkb:Robert_Aumann
James Friedman
gptkbp:generalizes imperfect monitoring Folk Theorem
gptkbp:hasVariant Aumann's Folk Theorem
Friedman's Folk Theorem
https://www.w3.org/2000/01/rdf-schema#label Folk Theorem
gptkbp:namedBecause result was known informally before formal proof
gptkbp:relatedTo gptkb:Nash_equilibrium
gptkb:prisoner's_dilemma
subgame perfect equilibrium
gptkbp:requires players are sufficiently patient
gptkbp:state any feasible and individually rational payoff can be sustained as a Nash equilibrium in infinitely repeated games
gptkbp:usedIn gptkb:economic_policy
evolutionary biology
political science
gptkbp:bfsParent gptkb:Repeated_Games
gptkbp:bfsLayer 7