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This paper reconsiders the relationship between the rules of a game and its outcomes. The authors develop a notion of rule reform that leads to the selection of Pareto improved equilibria points. They then apply this notion to a series of naturally occurring fishing rules, including examples...
Persistent link: https://www.econbiz.de/10005709440
In recent years, scholars have turned to alternative representations of utility to capture motivational heterogeneity across individuals. In the research reported here, we examine two models of heterogeneous utility--linear-altruism and inequity-aversion--in the context of two-person, social...
Persistent link: https://www.econbiz.de/10005674640