Mertens's maxmin conjecture for more-informed repeated games
Mertens's maxmin conjecture for more-informed repeated games
Consider a finite two-person zero-sum repeated game with values for its -stage games and for its -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 and converge to the 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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