A Mechanism for Inducing Cooperation in Non-Cooperative Environments: Theory and Applications
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Date
2000-02-01
Authors
Ellis, Christopher J.
Nouweland, Anne van den
Journal Title
Journal ISSN
Volume Title
Publisher
University of Oregon, Dept. of Economics
Abstract
We construct a market based mechanism that induces players in a non-cooperative game to make the same choices as characterize cooperation. We then argue that this mechanism is applicable to a wide range of economic questions and illustrate this claim using the problems of "The Tragedy of the Commons" and "R&D Spillovers in Duopoly".
Description
Keywords
Quantitative methods, Game theory, Mathematics, Microeconomics, Welfare economics, Public economics, Public goods