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We find that contrary to common perception, cooperation as equilibrium of the infinitely repeated discounted prisoner's dilemma is in many relevant cases not very plausible, or at least questionable: for a significant subset of the payoff-discount factor parameter space cooperation equilibria...
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Guided by a simple theory of task assignment and time allocation, we investigate the long run response to national … differences in tax rates on labor income, payrolls and consumption. The theory implies that higher tax rates reduce work time in …
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