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Date: April 30, 2024 Tue
Time: 12:16 am
Time: 12:16 am
Results for penal codes
1 results foundAuthor: Mailath, George J. Title: When and How the Punishment Must Fit the Crime Summary: In repeated normal-form (simultaneous-move) games, simple penal codes (Abreu, 1986, 1988) permit an elegant characterization of the set of subgame-perfect outcomes. We show that the logic of simple penal codes fails in repeated extensive-form games. By means of examples, we identify two types of settings in which a subgame-perfect outcome may be supported only by a profile with the property that the continuation play after a deviation is tailored not only to the identity of the deviator, but also to the nature of the deviation. Details: Munich: Center for Economic Studies and Ifo Institute (CESifo), 2015. 24p. Source: Internet Resource: CESifo Working Paper No. 5225: Accessed March 11, 2015 at: http://www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19159443 Year: 2015 Country: International URL: http://www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19159443 Shelf Number: 134902 Keywords: Penal CodesPunishment |