Unlike the ordinary repeated games, in the real world, people can run away after cheating. In this paper we construct a social game, in which players can repeat Prisoners' Dilemma only if both players agree to continue the partnership. We investigate how a social sanction prevents moral hazard...

This paper analyzes a model of coordination where two agents attempt to coordinate their actions through communication. One agent (Sender) is engaged in finding the true state of nature in a stochastic environment and the action that best fits the state. The other agent (Receiver) in turn tries...

The purpose of the paper is twofold: One is to explain the concept of product architecture in the context of increasing complexity of artifacts; The other is to examine the condition under which the open-standard strategy is likely to be adopted. Dramatic decreases in mechanical information...