Mertens's maxmin conjecture for more-informed repeated games

Consider a finite two-person zero-sum repeated game with values vnv_n for its nn-stage games and vλv_{\lambda} for its λ\lambda-discounted games. Player 1 is more informed than Player 2 when Player 1 observes everything that Player 2 observes. Mertens's maxmin conjecture. In a zero-sum repeated game where Player 1 is more informed than Player 2, the sequences (vn)(v_n) and (vλ)(v_{\lambda}) converge to the maxmin\operatorname{maxmin} of the game, defined as the maximal amount that Player 1 can guarantee for herself in long games. This conjecture predicts that both long-run evaluations equal the informed player's long-run guarantee; the source provides no evidence resolving it.

Sources & referencesView supporting material

Primary source

Bruno Ziliotto, “Zero-sum repeated games: Counterexamples to the existence of the asymptotic value and the conjecture maxmin=limv_n”, arXiv:1305.4778 (2016).

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