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Real-world negotiations differ fundamentally from existing bargaining theory. Inspired by the Paris Agreement on …
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The paper presents a dynamic game where players contribute to a public bad, invest in technologies, and write incomplete contracts. Despite the n 1 stocks in the model, the analysis is tractable and the symmetric Markov perfect equilibrium unique. If only the contribution levels are...
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International climate negotiations have been troubled by mutual mistrust. At the same time, a hope seems to prevail …
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