Abstract

We analyze the symmetric equilibria of repeated symmetric games where there is a conflict of interests over equilibria—the battle-of-the-sexes or the hawk–dove game are key examples. If one restricts attention to symmetric equilibria, efficient equilibria must be egalitarian. For finitely repeated games, and generic discount factors, there is a unique outcome path which ensures efficiency within the class of symmetric equilibria. This is also true for the infinitely repeated games if the players are sufficiently impatient. Journal of Economic Literature Classification Numbers: C72, C73.

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