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Cooperation in a one-shot Prisoners' Dilemma

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  • Harrington, Joseph Jr.
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    Abstract

    In this paper, we model social interactions which are characteristic of large economies. The key properties of this model are: (1) agents are randomly matched over time to engage in a Prisoners' Dilemma; (2) each agent routinely interacts with a proper subset of the other agents; and (3) each agent has highly imperfect information about the past conduct of other agents. For this setting, we show the optimality of a rule of thumb which does not discriminate between encounters with agents that one regularly meets and encounters with agents that one never expects to meet again. This rule of thumb generates cooperative behavior in all encounters. Journal of Economic Literature Classification Numbers: C72, D74.

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    Bibliographic Info

    Article provided by Elsevier in its journal Games and Economic Behavior.

    Volume (Year): 8 (1995)
    Issue (Month): 2 ()
    Pages: 364-377

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    Handle: RePEc:eee:gamebe:v:8:y:1995:i:2:p:364-377

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    Web page: http://www.elsevier.com/locate/inca/622836

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    1. Kreps, David M. & Milgrom, Paul & Roberts, John & Wilson, Robert, 1982. "Rational cooperation in the finitely repeated prisoners' dilemma," Journal of Economic Theory, Elsevier, Elsevier, vol. 27(2), pages 245-252, August.
    2. Paul R. Milgrom & Douglass C. North & Barry R. Weingast, 1990. "The Role Of Institutions In The Revival Of Trade: The Law Merchant, Private Judges, And The Champagne Fairs," Economics and Politics, Wiley Blackwell, Wiley Blackwell, vol. 2(1), pages 1-23, 03.
    3. Benoit, Jean-Pierre, 1988. "A non-equilibrium analysis of the finitely-repeated prisoner's dilemma," Mathematical Social Sciences, Elsevier, Elsevier, vol. 16(3), pages 281-287, December.
    4. Harrington, Joseph Jr., 1987. "Finite rationalizability and cooperation in the finitely repeated Prisoners' Dilemma," Economics Letters, Elsevier, vol. 23(3), pages 233-237.
    5. Rosenthal, R W, 1979. "Sequences of Games with Varying Opponents," Econometrica, Econometric Society, Econometric Society, vol. 47(6), pages 1353-66, November.
    6. Basu, Kaushik, 1987. "Modeling finitely-repeated games with uncertain termination," Economics Letters, Elsevier, vol. 23(2), pages 147-151.
    7. Michi Kandori, 2010. "Social Norms and Community Enforcement," Levine's Working Paper Archive 630, David K. Levine.
    8. Neyman, Abraham, 1985. "Bounded complexity justifies cooperation in the finitely repeated prisoners' dilemma," Economics Letters, Elsevier, vol. 19(3), pages 227-229.
    9. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 3(4), pages 367-388, December.
    10. DANIEL B. KLElN, 1992. "Promise Keeping In The Great Society: A Model Of Credit Information Sharing," Economics and Politics, Wiley Blackwell, Wiley Blackwell, vol. 4(2), pages 117-136, 07.
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    Cited by:
    1. Bruno S. Frey & Alois Stutzer, 2005. "Beyond outcomes: measuring procedural utility," Oxford Economic Papers, Oxford University Press, vol. 57(1), pages 90-111, January.
    2. Illtae Ahn & Matti Suominen, . ""Word-of-Mouth Communication and Community Enforcement''," CARESS Working Papres, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences 96-02, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
    3. Joseph E. Harrington, Jr. & Wei Zhao, 2010. "Signaling and Tacit Collusion in an Infinitely Repeated Prisoners' Dilemma," Economics Working Paper Archive, The Johns Hopkins University,Department of Economics 559, The Johns Hopkins University,Department of Economics.
    4. Lippert, Steffen & Spagnolo, Giancarlo, 2005. "Networks of Relations and Social Capital," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5078, C.E.P.R. Discussion Papers.
    5. Mari Rege, 2000. "Networking Strategy: Cooperate Today in Order to Meet a Cooperator Tomorrow," Discussion Papers, Research Department of Statistics Norway 282, Research Department of Statistics Norway.
    6. Bruno S. Frey & Alois Stutzer, 2001. "Beyond Bentham – Measuring Procedural Utility," CESifo Working Paper Series 492, CESifo Group Munich.

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