The option to leave unilaterally serves as a double-edged sword for cooperation in the repeated prisoner's dilemma game, so that trigger strategies that use breakup as punishment threats generically may not yield optimally sustainable social outcome in this paradigm. In this study, we construct...

Prominent models such as MEU/α-MP and KMM interpret ambiguity aversion as aversion against second-order risks associated with ambiguous acts. We design an experiment where the decision maker draws twice with replacement in the typical Ellsberg two-color urns, but with a different color winning...

When the repeated prisoner's dilemma setup is generalized to allow for a unilateral breakup, maximal efficiency in equilibrium remains an open question. With restrictions of simple symmetry with eternal mutual cooperation, defection, or (matched) alternation on the equilibrium path, we describe...

When the repeated prisoner's dilemma setup is generalized to allow for a unilateral breakup, maximal efficiency in equilibrium remains an open question. With restrictions of simple symmetry with eternal mutual cooperation, defection, or (matched) alternation on the equilibrium path, we describe...

A controversy has been simmering in law for at least 30 years about whether pro bono work should be mandatory for lawyers, who now donate 1-3% of their time to the poor. This has centered on the unmet legal needs of the poor, the duty of lawyers, and the contrast with US doctors, who are...