12. The trust game shown in Exhibit 13.15 is a sequential prisoners dilemma; as the payoff matrix...

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12. The trust game shown in Exhibit 13.15 is a sequential prisoners’ dilemma; as the payoff matrix shows, the outcome of the game is not socially efficient. What factors could cause this equilibrium to be different in real life?

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Macroeconomics

ISBN: 9780134492056

2nd Edition

Authors: Daron Acemoglu, David Laibson, John List

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