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Strategic interactions between policymakers arise whenever each policymaker has distinct objectives. Deviating from full cooperation can result in large welfare losses. To facilitate the study of strategic interactions, we develop a toolbox that characterizes the welfare-maximizing cooperative...
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theory. The most important feature of our work is to look at the possible strategic interactions between various economic … strategic way. The method of non-cooperative game theory leads in general to results which differ from that derived in using … "traditional" economic theory …
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Beauty Contest (Keynes, The General Theory of Employment, Interest, and Money, 1936), theoretically and experimentally with a …
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