Theory and Applications of Repeated Games

我来耶鲁调研的主要目的是扩展我对关系契约和无限重复博弈的基本理论的研究。在这篇文章中，我们与Susanne Ohlendorf一起刻画了在行为完全可观察、边付款是可能的、且关系合同是防重新协商的假设下，双方在关系合同下所能获得的收益集。我们对文献的贡献是为一般框架开发了一种简单的方法，以确定任何贴现因素的最优关系契约。在许多例子中，如长期买卖关系、研究合资企业或非法串通协议，对关系合同的范围来说，可以监控其他各方的行为的程度是至关重要的。我的研究访问的一个目标是将我的结果扩展到尽可能笼统的不完美监测形式。我的东道主拉里·萨缪尔森和约翰尼斯·霍尔纳都是重复游戏领域的顶尖专家，他们的研究特别关注不完善的监控问题。我此次研究访问的另一个目的是了解更多关于结构性计量经济学方法的知识，这些方法可以在重复互动中估计企业的战略。耶鲁拥有拉尼尔·本卡德、史蒂夫·贝瑞或菲利普·海尔等新经验产业组织相应领域的世界领先专家。我希望我的研究访问有助于我为德国结合经济理论和应用计量经济学的经济学研究和教学做出贡献。和计量经济学。

The main goal of my research visit to Yale is to extend my research on relational contracts and the underlying theory of infinitely repeated games. In the paper Renegotiation-Proof Relational Contracts with Side Payments , joint with Susanne Ohlendorf, we characterize the set of payoffs that two parties can achieve with relational contracts under the assumptions that actions are perfectly observable, side payments are possible and the relational contracts are renegotiation-proof. Our contribution to the literature is to develop for a general framework a simple method to determine optimal relational contracts for any discount factor. In many examples, like long-term buyer-seller relationships, research joint ventures, or illegal collusive agreements, the degree to which other parties’ behavior can be monitored is crucial for the scope of relational contracts. One goal of my research visit is to extend my results to forms of imperfect monitoring that are as general as possible. My host Larry Samuelson, as well as Johannes Hörner, are leading experts in the field of repeated games, whose research has a particular focus on issues of imperfect monitoring. Another goal of my research visit is to learn more about structural econometric methods that allow to estimate firms strategies in repeated interactions. Yale hosts world leading experts in the corresponding field of new empirical industrial organization, like Lanier Benkard, Steve Berry, or Philip Haile. I have the hope that my research visit helps me contributing to economic research and teaching in Germany that combines economic theory and applied econometrics. and econometrics.