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Cooperation in a one-shot Prisoners' Dilemma

  • Harrington, Joseph Jr.
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    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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    File URL: http://www.sciencedirect.com/science/article/pii/S0899825605800065
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    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
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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    1. Kandori, Michihiro, 1992. "Social Norms and Community Enforcement," Review of Economic Studies, Wiley Blackwell, vol. 59(1), pages 63-80, January.
    2. David Kreps & Paul Milgrom & John Roberts & Bob Wilson, 2010. "Rational Cooperation in the Finitely Repeated Prisoners' Dilemma," Levine's Working Paper Archive 239, David K. Levine.
    3. Benoit, Jean-Pierre, 1988. "A non-equilibrium analysis of the finitely-repeated prisoner's dilemma," Mathematical Social Sciences, 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. 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, vol. 2(1), pages 1-23, 03.
    6. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December.
    7. Basu, Kaushik, 1987. "Modeling finitely-repeated games with uncertain termination," Economics Letters, Elsevier, vol. 23(2), pages 147-151.
    8. Neyman, Abraham, 1985. "Bounded complexity justifies cooperation in the finitely repeated prisoners' dilemma," Economics Letters, Elsevier, vol. 19(3), pages 227-229.
    9. Rosenthal, R W, 1979. "Sequences of Games with Varying Opponents," Econometrica, Econometric Society, vol. 47(6), pages 1353-66, November.
    10. DANIEL B. KLElN, 1992. "Promise Keeping In The Great Society: A Model Of Credit Information Sharing," Economics and Politics, Wiley Blackwell, vol. 4(2), pages 117-136, 07.
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