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Costas Cavounidis

Publications and source records attributed to Costas Cavounidis.

2 recordsLinked to original sources

Perfect Secrecy in the Wild: A Characterization

Alice wishes to reveal the state $X$ to Bob, if he knows some other information $Y$ also known to her. If Bob does not, she wishes to reveal nothing about $X$ at all. When can Alice accomplish this? We provide a simple necessary and sufficient condition on the joint distribution of $X$ and $Y$. Shannon's result on the perfect secrecy of the one-time pad follows as a special case.

econ.TH

Blackwell Equilibrium in Repeated Games

We apply Blackwell optimality to repeated games. An equilibrium whose strategy profile is sequentially rational for all high enough discount factors simultaneously is a Blackwell (subgame-perfect, perfect public, etc.) equilibrium. The bite of this requirement depends on the monitoring structure. Under perfect monitoring, a ``folk'' theorem holds relative to an appropriate notion of minmax. Under imperfect public monitoring, absent a public randomization device, any perfect public equilibrium generically involves pure action profiles or stage-game Nash equilibria only. Under private conditionally independent monitoring, in a class of games that includes the prisoner's dilemma, the stage-game Nash equilibrium is played in every round.

econ.TH