Okuno-Fujiwara, Takako Fujiwara-Greve Masahiro; Suzuki, … - Tokyo Center for Economic Research (TCER) - 2013
Voluntarily Separable Repeated Prisoner's Dilemma (Fujiwara-Greve and Okuno-Fujiwara, 2009) has many kinds of equilibria. Focusing on monomorphic and bimorphic equilibria, we show that a bimorphic equilibrium consisting of cooperators and defectors is most efficient, under a mild payoff...