What you get is what you see: Cooperation in repeated games with observable payoffs

We consider two-player repeated games, where the players observe their own payoffs with a positive probability. Typically, a player observes neither the other's actions nor her own payoffs. We show that when costly communication is available to the players and when they are patient enough, being aware of her own payoffs suffices to provide the players with any strictly efficient payoff by sequential equilibrium. (C) 2019 Elsevier Inc. All rights reserved.