Green, and later Sabourian studied repeated games where a player’s payoff depends on his actions and an anonymous aggregate outcome, and show that long-run players behave myopically in any equilibrium of such games. In this paper we extend these results to games where the aggregate outcome is...

This paper provides an explanation for why the sunk cost bias persists among firms competing in a differentiated product oligopoly. Firms experiment with cost methodologies that are consistent with real-world accounting practices, including ones that allocate fixed and sunk costs to determine...