Cooperation does not easily scale up—strategic uncertainty increases as groups get larger, preventing coordination on the cooperative equilibrium. In an indefinitely repeated social dilemma experiment conducted in small and large groups, we add partial cooperation choices to the usual rigid...

We study a decentralized trading model as in Peters (1984a), where heterogeneous market participants face a trade-off between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium, based on a recursive approach that exploits the...