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In this paper we show that a simple model of fairness preferences explains major experimental regularities of common pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without sanctioning possibilities inefficient excess appropriation is...
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incomplete information games. This has been achieved by appropriately restricting beliefs at unreached information sets. Each new … refinement gives stricter and more mathematically-complicated limitations on permitted beliefs. A simpler approach is taken here …, where the whole idea of beliefs is dispensed with, and a new equilibrium concept, called the ideal reactive equilibrium …
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