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The Power of Commitment

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Author Info
John Geanakoplos () (Cowles Foundation, Yale University)
Chien-fu Chou
Abstract

History has seen many examples of the lone man ñ like Christ, Luther, Gandhi, or Hitler -- who without initial wealth or position, succeeds in changing the behavior of an entire society, for good or for ill. Whence comes this power. No doubt such leaders have possessed extraordinary ability, and have formulated original ideas with great appeal which others could readily follow. But there is another striking similarity among these leaders; namely their single-minded devotion to their, ideals, and their uncompromising attitude toward those who opposed them, no matter what the personal cost. There is hardly any need to document this facet of their personalities, so widely is it known. But we cannot help recalling Gandhi's threat to starve himself to death if the fighting between Hindus and Muslims did not stop. Indeed the whole-hearted commitment of these leaders to their ideals was often reflected in their followers' commitment to them. The purpose of this paper is to show how significant is the power to make commitments, perhaps in the name of some ideal.

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File URL: http://cowles.econ.yale.edu/P/cd/d08b/d0885.pdf
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Publisher Info
Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 885.

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Length: 45 pages
Date of creation: Sep 1988
Date of revision:
Handle: RePEc:cwl:cwldpp:885

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Related research
Keywords: Commitment credible threat; repeated games; game theory;

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jean-Pierre Benoit & Vijay Krishna, 1999. "The Folk Theorems for Repeated Games: A Synthesis," Game Theory and Information 9902001, EconWPA. [Downloadable!]
  2. Hitoshi Matsushima, 2000. "Small Verifiability in Long-Term Relationships," CIRJE F-Series CIRJE-F-98, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
  3. Hitoshi Matsushima, 2002. "Finitely Repeated Games with Small Side Payments," CIRJE F-Series CIRJE-F-179, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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