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Noise-Tolerant Community Enforcement and the Strength of Small Stakes
American Economic Review: InsightsWe study community enforcement in a large population with noisy monitoring. We focus on equilibria in the prisoner’s dilemma that are coordination proof, meaning that matched partners never play a Pareto-dominated Nash equilibrium in the one-shot game ...
D. Fudenberg, A. Wolitzky
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Contrasting Visions for Macroeconomic Theory: DSGE and OEE
The American Economist, 2017Dynamic stochastic general equilibrium (DSGE) modeling remains the workhorse of contemporary macroeconomics despite a growing number of critiques of its ability to explain the aggregate properties of an economic system. For the most part, those critiques
Abigail N. Devereaux, R. Wagner
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