Gradualism and Irreversibility.

This paper considers a class of two-player dynamic games in which each player controls a one-dimensional variable which we interpret as a level of cooperation. In the base model, there is an irreversibility constraint stating that this variable can never be reduced, only increased. It otherwise satisfies the usual discounted repeated game assumptions.

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Year of publication:	1999
Authors:	Lockwood, B. ; Thomas, J.P.
Institutions:	Department of Economics, University of Warwick
Subject:	GAMES \| PUBLIC GOODS \| COOPERATION

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Series:	The Warwick Economics Research Paper Series (TWERPS).
Type of publication:	Book / Working Paper
Language:	English
Notes:	37 pages
Classification:	C73 - Stochastic and Dynamic Games ; H41 - Public Goods
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005146914