implicitly and explicitly), if at all, in such games. In our treatments without communication, players fail to cooperate and … essentially play the static Nash equilibrium (consistent with previous results). With communication, inefficient firms gain at the …

implicitly and explicitly), if at all, in such games. We find that, without communication, players fail to cooperate and … essentially play the static Nash equilibrium, confirming previous results. With communication, inefficient firms gain at the …