We experimentally study the effect of a third-person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that when the third person can observe these two persons’ play, the possibility of the...

Many goods have network externalities. When the number of agents possessing such goods is small, the agents may not gain sufficient utility from the goods. Agents then have an incentive to delay their purchasing decisions. Such delays have negative effects on the agents' utility, so equilibrium...

On the domain of convex games, many desirable properties of solutions are compatible and there are many single-valued solutions that are intuitively appealing. We establish some interesting logical relations among properties of single-valued solutions. In particular, we introduce a new property,...