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This paper investigates how the introduction of social preferences affects players’ equilibrium behavior in both the … others’ social preferences than if they are uninformed. Finally, our results help to identify conditions under which … cooperative behavior observed in recent experimental repeated games can be rationalized using time preferences alone (patience) or …
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microeconomics, covering topics such as mixed strategies, discrimination, incentives, and human preferences. He also looks at finance …
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Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium...
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