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We study chip-strategy equilibria in two-player repeated games. Intuitively, in these equilibria players exchange favors by taking individually suboptimal actions if these actions create a "gain" for the opponent larger than the player's "loss" from taking them. In exchange, the player who...
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social-learning problem and ask how the network changes the efficiency of signal aggregation. Rational actions in our model …-grained ranking of networks based on their aggregative efficiency index. Networks where agents observe multiple neighbors but not … networks where agents move in generations and observe the previous generation, aggregative efficiency is a simple function of …
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A well known and simple game to model markets is the glove game where worth is produced by building matching pairs. For glove games, different concepts, like the Shapley value, the restricted Shapley value or the Owen value, yield different distributions of worth. Moreover, computational effort...
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