Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5062448 | Economics Letters | 2006 | 6 Pages |
Abstract
We define a refinement of the subgame perfect equilibrium. The punishment for a deviation lasts for several periods after which the players revert to cooperative behavior, and during the punishment phase, the nondeviators are better off than the deviator.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Miguel Aramendia,