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| Author: | Kritikos, A. Bolle, F. |
| Title: | Indenturing banknotes as a mechanism to induce cooperation in conflict games |
| Journal: | Journal of Economic Behavior and Organization
1998 : FEB 15, VOL. 34:2, p. 279-294 |
| Index terms: | ECONOMIC BEHAVIOUR ORGANIZATION CONFLICT |
| Language: | eng |
| Abstract: | A principal wants an agent to do something for him, but does not want to pay him. The agent wants to get the money, but does not want to work for it. How can the socially efficient result of working and paying be achieved if no enforcable contract can be concluded and the game is played only once? A class of the one-shot-games (Indenture Games) is analyzed where efficient behaviour is the unique stable equilibrium. |
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