Cabrales, Antonio; Nagel, Rosemarie; Jose V. Rodr?guez Mora - Dipartimento di Politica Economica, Finanza e Sviluppo … - 2007
make effort and there is little redistribution. In the other one, there is no effort and nothing to redistribute. A … solution to the repeated game allows for redistribution and high effort, by the threat to revert to the worst of these … equilibria. Our results show that redistribution with high effort is not sustainable. The main reason for the absence of …