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The world will always need otters, so A and B expect to continue playing this game indefinitely. But time is money: $1 of profit a
The world will always need otters, so A and B expect to continue playing this game indefinitely. But time is money: $1 of profit a year from now is only valued as much as $ received today. b) Analyze whether a tit-for-tat strategy makes the "cooperating outcome" sustainable in this game or not: for what values of the discount factor () will it be possible to have both countries maintain the "cooperating outcome" if they both employ a tit-for-tat strategy
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