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We define and study games with limited aspirations. In a game with limited aspirations there are upper bounds on the possible payoffs for some coalitions. These restrictions require adjustments in the definitions of solution concepts. In the current paper we study the effect of the restrictions...
Persistent link: https://www.econbiz.de/10005587616
The willingness of individuals to enforce social norms can have important welfare implications. All the experimental evidence on norm enforcement so far comes from laboratory experiments and indicates that many participants are indeed willing to enforce norms, even in one-shot interactions. We...
Persistent link: https://www.econbiz.de/10009371116