G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
Markets and Cooperation
Giancarlo Spagnolo
发表日期1999
出处Economy and Society
出版年1999
语种英语
摘要Why do money and markets crowd out co-operative relations? This paper characterises the effects of intertemporal preferences, money, and markets on players' ability to co-operate in material-payoff supergames. Players' aversion to intertemporal substitution facilitates co-operation by decreasing their evaluation of short-run gains from deviations and increasing that of losses from punishments. Goods' markets and money may hinder co-operation by allowing players to reallocate short-run gains from deviations in time, at some cost. Allowing for free intertemporal reallocation of payoffs, perfect financial markets always make co-operation harder. Financial markets' imperfections facilitate co-operation by opposing this effect.
特色分类C72,D51,O17
关键词Co-operation,repeated games,Prisoner's dilemma,commons,reciprocal exchange,implicit contracts,collusion,institutions
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/markets-and-cooperation/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/116492
推荐引用方式
GB/T 7714
Giancarlo Spagnolo. Markets and Cooperation. 1999.
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