It has been argued that punishment promotes the evolution of cooperation when mutation rates are high (i.e. when agents engage in 'exploration dynamics'). Mutations maintain a steady supply of agents that punish free-riders, and thus free-riders are at a disadvantage. Recent experiments, however, have demonstrated that free-riders sometimes also pay to punish cooperators. Inspired by these empi...

We propose a new category of consumption goods, memorable goods, that generate a flow of utility after consumption. We analyze an otherwise standard consumption model that distinguishes memorable goods from other nondurable goods. Consumers optimally choose lumpy consumption of memorable goods. We empirically document differences between levels and volatilities of memorable and other goods expe...

in sale of goods, the delivered goods must conform both to what is the subject of contract and to what the parties intend. conformity of goods has two aspects: legal and material. the legal aspect, with which this article concerns, consist of such topics as right of sale, ownership of seller, lack of third party’s claim and so on .since domestic and international transactions are increasing, th...

International efforts to provide global public goods often face the challenges of coordinating national contributions and distributing costs equitably in the face of uncertainty, inequality, and free-riding incentives. In an experimental setting, we distribute endowments unequally among a group of people who can reach a fixed target sum through successive money contributions, knowing that if th...

The relationship between India and ASEAN has emerged as a crucial basis of their foreign policy. Both the regions signed Free Trade Agreement in 2009, which came into effect 2010. They are now reviewing FTA to further enhance economic cooperation. At this critical juncture, study aimed analyze trade export examine extent AIFTA effectively influenced it. Additionally, intended determine what oth...