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A general social dilemma: Profitable exchange and intransitive group preferences

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I am grateful to valuable comments and critical remarks by F. Breyer, H. P. Bauer, H. J. Jaksch and M. Faber. An exchange of ideas with Thomas Schwartz extending over years has been helpful to develop the intuitive understanding of the problems discussed.

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Bernholz, P. A general social dilemma: Profitable exchange and intransitive group preferences. Zeitschr. f. Nationalökonomie 40, 1–23 (1980).

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