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Journal of Evolutionary Economics

, Volume 10, Issue 4, pp 449–455 | Cite as

Splitting the baby in two: solving Solomon's dilemma with boundedly rational agents

  • Giovanni Ponti
Orignal Paper

Abstract.

We study the dynamic implementation of the first-best forKing Solomon's Dilemma, on the assumption that boundedly rational players find their way to equilibrium using monotonic evolutionary dynamics. We find that all the mechanisms proposed by the literature fail to implement the first best dynamically and provide an alternative solution.

JEL-classification: C72, D78, D83 
Key words: Solomon's dilemma – Implementation theory – Evolutionary dynamics 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2000

Authors and Affiliations

  • Giovanni Ponti
    • 1
  1. 1.Departamento de Fundamentos del Análisis Económico, Universidad de Alicante, 03071 Alicante, Spain (e-mail: giuba@merlin.fae.ua.es) ES

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