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This paper studies the evolution of a population whose members use their social class to coor-dinate their actions in a simple tacit bargaining game. In the spirit of Rosenthal and Landau [1979], we interpret the equilibrium behaviours that the players may adopt, as a function of their class, as...
Persistent link: https://www.econbiz.de/10005636432
Traditional game theoretic analysis often proposes the application of backward-induction and subgame-perfection as models of rational behavior in games with perfect information. However, there are many situations in which such application leads to counterintuitive results, casting doubts on the...
Persistent link: https://www.econbiz.de/10005636444
This paper is concerned with the realism of mechanisms that implement social choice functions in the traditional sense. Will agents actually play the equilibrium assumed by the analysis? As an example, we study convergence and stability prop-erties of Sjostrom's (1994) mechanism, on the...
Persistent link: https://www.econbiz.de/10005636466