The common characteristic of R&D joint ventures between oligopolistic competitors, arms reduction talks, and study groups in law school is cooperation with rivals. Players benefit from cooperation, but any gain by their partner weakens their own position when competing for profits, security, or...

The common characteristic of R&D joint ventures between oligopolis- tic competitors, arms reduction talks, and study groups in law school is cooperation with rivals. Players benefit from cooperation, but any gain by their partner weakens their own position when competing for profits, security,...

Each of n = 1 identical buyers (and m = 1 identical sellers) wants to buy (sell) a single unit of an indivisible good. The core predicts a unique and extreme outcome: the entire surplus is split evenly among the buyers when m n and among the sellers when m n; the long side gets nothing. We...

Each of n ≥ 1 identical buyers (and m ≥ 1 identical sellers) wants to buy (sell) a single unit of an indivisible good. The core predicts a unique and extreme outcome: the entire surplus is split evenly among the buyers when m n and among the sellers when m n; the long side gets nothing. We...

A longstanding criticism of the core is that it is too sensitive to small changes in player numbers, as in a well known example where one extra seller (resp. buyer) causes the entire surplus to go to the buyer's (seller's) side. We test this example in the lab, using several different trading...

Each of n (greater than or equal to) 1 identical buyers (and m (greater than or equal to) 1 identical sellers) wants to buy (sell) a single unit of an indivisible good. The core predicts a unique and extreme outcome: the entire surplus is split evenly among the buyers when m gt; n and among the...