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¡Ú¥¿¥¤¥È¥ë¡Û¡§"Voluntarily Separable Repeated Prisoner's Dilemma with Reference Letters"
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¡ÚÏÀʸ³µÍסۡ§We consider voluntarily separable repeated Prisoner's Dilemma in which a pair of players meet randomly and repeatedly play Prisoner's Dilemma only by mutual agreement. While the literature dealt with the case of no information flow across partnerships, we consider the case that players can issue a "reference letter" to verify at least that the partnership entered the cooperation phase. We show that such reference letters can be voluntarily provided by the partners even at some cost, and that the sheer existence of a letter shortens the trust-building periods and thus improves social efficiency.
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