Discussion Papers 2019

CIRJE-F-1135

"Cooperation in Revision Games and Some Applications"

Author Name

Kamada, Yuichiro and Michihiro Kandori

Date

December 2019

Full Paper

PDF File

Remarks

Subsequently published in Global Economic Review, 49:4, 329-348, DOI: 10.1080/1226508X.2020.1836783(2020)

Abstract

The present paper provides some examples that illustrate how cooperation is achieved among rational and selfish agents when (i) they prepare their actions in advance and (ii) they have some opportunities to revise their actions. Specifically, we use the framework of revision games introduced by Kamada and Kandori (2019). To judge the sustainability of cooperation in the examples, we show and utilize a simple and useful lemma.