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After ten rounds of playing the prisoners' dilemma game, subjects were given the possibility of eliminating one of the two actions by plurality. Each subject voted on whether to keep all actions, eliminate D, or eliminate C. After voting, the subject participated in ten more rounds depending on...
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-run rate of growth under private property is higher than or equal to that under common property. If the discount factors are … formed endogenously, under some circumstances common property can result in a higher rate of growth than private property …
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