Japanese Labour Markets: Can we Expect Significant Change?
The Folk Theorem for infinitely repeated games offers an embarrassment of riches; nowhere is equilibrium multiplicity more acute. This paper selects amongst these equilibria in the following sense. If players learn to play an infinitely repeated game using classical hypothesis testing, it is known t...
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| Format: | Working paper |
| Language: | English |
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Department of Economics (University of Oxford)
2000
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