In the context of an infinitely repeated Prisoners' Dilemma, we explore how cooperation is initiated when players communicate and coordinate through their actions. There are two types of players - patient and impatient - which are private information. An impatient type is incapable of...

At the macro-level, economic reform in the PRC since 1978 has led to the implementation of a multi-ownership system. The consequent transformation of Chinese formerly state-owned enterprises (SOEs) has been a major way of improving efficiency and increasing competition. However, the...

In the context of an infinitely repeated Prisoners.Dilemma, we explore how cooperation is initiated when players signal and coordinate through their actions. There are two types of players - patient and impatient - and a player's type is private information. An impatient type is incapable of...