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This essay reports on seventeen experiments that test the validity of the Core as a solution to n-person cooperative games in a nontransferable utility context. Money is used to induce preferences, but subjects are not permitted to negotiate about nor transfer money amongst themselves. Instead,...
Persistent link: https://www.econbiz.de/10010802058
Olson has argued that rational, self-interested individuals will not act to achieve their common goal or to satisfy their collective interests. Hardin interpreted the argument in terms of the classical prisoner's dilemma and offered a solution whereby the majority choice of the group would...
Persistent link: https://www.econbiz.de/10010801281