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[PEN-L:4717] Re: collective goods problem, cont.



Jim-

One application where the iterated prisoner's dilemma does provide some
useful insight, I think, has to do with price and non-price strategies
among oligopolists, where one can theoretically support cooperative
behavior regarding the former, but not the latter.  See my "Unproductive
Expenditure in Manufacturing," Cambridge Journal of Economics, June, 1992.

-Sandy

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