The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Mar, 1974, Volume 42, Issue 2
https://doi.org/0012-9682(197403)42:2<221:NEITS>2.0.CO;2-W
p. 221-238
James W. Friedman
This paper is concerned with "supergames" in which the action taken in a given time period by a player will affect the payoff to any other player in the subsequent period. A supergame consists of a set of players and a countable sequence of "ordinary" games. To illustrate "time-dependence," consider an economic market in discrete time. Say each firm must choose a price in each time period. This market has time-dependence if the amount demanded of a firm today is a function of the prices chosen today and of the prices chosen in the preceding period. Conditions are given for the existence of non-cooperative equilibria of two types: (i) steady state, in which the individual moves of the players converge over time to some s^0 and (ii) balance temptation equilibria of the sort developed by Friedman [6] for games lacking time dependence.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
