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Supporting Cooperation via Agreement Equilibrium

Research output: Contribution to journalArticlepeer-review

Mehmet Ismail, Ronald Peeters

Original languageEnglish
JournalMANAGEMENT SCIENCE
Accepted/In press14 Oct 2019

Documents

  • agreement_equilibrium

    agreement_equilibrium.pdf, 289 KB, application/pdf

    Uploaded date:20 Nov 2019

    Version:Accepted author manuscript

King's Authors

Abstract

We introduce 'agreement equilibrium' as a novel solution concept that can explain the abundance of cooperative behavior that is often observed in laboratory experiments in various contexts. The main idea of the agreement equilibrium is to identify behaviors that individuals can (tacitly) agree on while being ambiguous about their opponents' intentions to respect or to betray this (tacit) agreement. We investigate properties of the agreement equilibrium and illustrate the agreement equilibrium in a series of famous applications.

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