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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 |
URL | https://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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文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
NDL1999-100.pdf(1003KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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