We consider repeated games with side-payments: players have an endowment of wealth in each period in which transfers can be made. We show that if endowments are large enough and the common discount factor high enough, then a strongly renegotiation–proof equilibrium (SRP) in the sense of Farrell and Maskin exists. As the discount factor goes to 1, the set of SRP payoffs converges to the set of e...

Can we identify the members of a community who are bestplaced to diffuse information simply by asking a random sample of individuals? We show that boundedly-rational individuals can, simply by tracking sources of gossip, identify those who are most central in a network according to “diffusion centrality,” which nests other standard centrality measures. Testing this prediction with data from 35 ...

1. The release of ink from the ink gland of Aplysia californica in response to noxious stimuli is mediated by three electrically coupled motor neurons, L14A, L14B, L14C, whose cell bodies are located in the abdominal ganglion. The initial synaptic input to the ink motor neurons is relatively ineffective in firing the cells. As a result, a pause of 1--3 s often occurs before the cells attain the...

Nghiên cứu này được thực hiện với nguồn vật liệu từ cuống lá, phiến rễ mầm và trục thượng diệp của giống lạc L14. Kết quả nghiên cho thấy công thức khử trùng hiệu đối mẫu hạt là kép bằng dung dịch NaOCl 2,5% 0,5ml Tween20 trong thời gian lần 1 5 phút, 2 15 giữa rửa sạch nước cất tiệt ít nhất 3 lần. Sau tuần nuôi cấy trên nền môi trường MS có bổ sung 10 mg/L 2,4-D, lá cảm ứng tạo mô sẹo cao nhất...

A technologiak egyre osszetettebbe valasaval ritka, hogy a vallalkozasok minden szukseges kompetenciaval rendelkeznek egy-egy sikeres innovacio megvalositasahoz. hianyzo ismeretek potlasa es valtozatosabb tudashoz valo hozzaferes erdekeben tudashalozatokba kapcsolodnak be, igy vonva be szervezeten kivuli szereplőket innovacios folyamataikba. Ezaltal teljesitmenyuk mar nemcsak belső erőforrasaik...

In this paper, we develop a model of collusion in which two firms play an infinitelyrepeated Bertrand game when each firm has a privately-informed agent. The colluding firms, fixing prices, allocate market shares based on the agent’s information as to cost types. We emphasize that the presence of privately-informed agents may provide firms with a strategic opportunity to exploit an interaction ...

Should the buyer of a customized good use competitive bidding or negotiation to select a contractor? To shed light on this question, we consider several possible determinants that may influence the choice of auctions versus negotiations. We then examine a comprehensive data set of private sector building contracts awarded in Northern California during the years 1995–2000. The analysis suggestsa...

In this paper we compare the two standard forms of international investments in developing countries, debt and foreign direct investment, from a finance perspective. It is shown that the sovereign risks associated with debt finance are generally less severe than the ones which come with FDI. FDI is chosen only if the foreign investor is more efficient in running the project, if the project is r...

This paper proposes a simple model for understanding transaction costs – their composition, size and policy implications. We distinguish between investments in institutions that facilitate exchange and the cost of conducting exchange itself. Institutional quality and market size are determined by the decisions of risk averse agents and conditions are discussed under which the efficient allocati...