We derive the most probable distribution of resources for a simple society. We find that a probabilistic analysis forbids both too much and too less equity, and selects instead a minimally ordered state. We give the detailed calculations for a special model where the population and resources are...

A set of outcomes for a TU-game in characteristic function form is dominant if it is, with respect to an outsider-independent dominance relation, accessible (or admis-sible) and closed. This outsider- independent dominance relation is restrictive in the sense that a deviating coalition cannot...

This paper considers the extent to which expenditure by contestants in imperfectly discriminating rent-seeking contests dissipates all or only part of the rent. In particular, we investigate strategic effects, technological effects and asymmetry under an assumption of diminishing returns to...

This paper examines characteristics of cooperative behavior in a repeated, n-person, continuous action generalization of a Prisoner's Dilemma game. When time preferences are heterogeneous and bounded away from one, how "much" cooperation can be achieved by an ongoing group? How does group...

We study Nash equilibria of joint production games under a mixed output sharing rule in which part of the output (the mixing parameter) is shared in proportion to inputs and the rest according to exogenously determined shares. This rule includes proportional sharing and equal sharing as special...

This paper offers a noncooperative behaviourally-founded solution of the complete information bargaining problem where two impatient individuals wish to divide a unit pie. We formulate the game in continuous time, with unrestricted timing and content of offers. Reprising experimental work from...

In experimental studies pairs that repeatedly play the simple coordination game mutual fate control may regularly fail to coordinate when they are given little in-formation, i.e. when subjects are uninformed about the payoff matrix and feed-back is limited to their own payoff. Our experimental...

Consider Becker's (1973) classic static matching model, with output a stochastic function of unobserved types. Assume symmetric incomplete information about types, and thus commonly observed Bayesian posteriors. Matching is then assortative in these `reputations' if expected output is...

This paper analyzes sequential games of double-sided Bertrand competition in the deposit and credit markets, when banks are free to reject customers and cannot distinguish among borrowers. The timing of competition is crucial when customers apply once. Interest rates are pushed upwards when the...