PEACE AGREEMENTS WITHOUT COMMITMENT*Peace Agreement • June 8th, 2008
Contract Type FiledJune 8th, 2008Figure 1 below shows the case where V /k = 16. This figure can be interpreted as the best reply function of Player 1 and Player 2 when no agent is constrained. In this case, we readily see that the maximum effort occurs when ei = V which is also the solution
PEACE AGREEMENTS WITHOUT COMMITMENT*Peace Agreement • March 12th, 2008
Contract Type FiledMarch 12th, 2008Figure 1 below shows the case where V /k = 16. This figure can be interpreted as the best reply function of Player 1 and Player 2 when no agent is constrained. In this case, we readily see that the maximum effort occurs when ei = V which is also the solution