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Evolutionary dynamics on infinite strategy spaces

Oechssler, Joerg; Riedel, Frank - 1998

. Finally, we apply this general theory to a number of applications like the Nash demand game, the War of Attrition, Cournot and … Bertrand oligopoly games, and mixed strategies. -- replicator dynamics ; evolutionary stability ; continuous strategy spaces … ; oligopoly …

Persistent link: https://www.econbiz.de/10009578001

Divisionalization in contests

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000

To be represented by more than one contestant in a contest has advantages and disadvantages. This paper determines the conditions under which it is favorable to send several agents into the contest. -- contests ; Divisionalization ; delegation

Persistent link: https://www.econbiz.de/10009582389

Efficient contracting and fair play in a simple principal-agent experiment

Anderhub, Vital; Gächter, Simon; Königstein, Manfred - 1999

Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This … evidence on offered contracts and effort choices in a simple agency game. In line with principal-agent theory we find that in … design has to regard an equity constraint that has so far been neglected by contract theory. In fact, most contract offers …

Persistent link: https://www.econbiz.de/10009581090

Why the rich are nastier than the poor : a note on optimal punishment

Huck, Steffen; Müller, Wieland - 1998

Studying evolutionarily successful behavior we show in a general framework that when individuals maximizing payoff differentials invest resources in punishing others. Interestingly, these investments are increasing in individuals, own wealth and decreasing in the wealth of others.

Persistent link: https://www.econbiz.de/10009574881

The relevance of equal splits : on a behavioral discontinuity in ultimatum games

Güth, Werner; Huck, Steffen; Müller, Wieland - 1998

The findings on the ultimatum game are considered as belonging to the most robust experimental results. In this paper we present a slightly altered version of the mini ultimatum game of Bolton and Zwick (1995). Whereas in the latter exactly equal splits were feasible in our games these were...

Persistent link: https://www.econbiz.de/10009574884

Species survival and evolutionary stability in sustainable habitats : the concept of ecological stability

Aumann, Robert J.; Güth, Werner - 1998 - Rev.

(geno-) types as in evolutionary biology and game theory. Survival in inter- and intraspecies competition together with …

Persistent link: https://www.econbiz.de/10009578002

Scale economies and the dynamics of recurring auctions

Jeitschko, Thomas D.; Wolfstetter, Elmar - 1998

We analyze the dynamics of a game of sequential bidding in the presence of stochastic scale effects in the form of stochastic economies or diseconomies of scale. We show that economies give rise to declining expected equilibrium prices, whereas the converse is not generally true. Moreover,...

Persistent link: https://www.econbiz.de/10009578006

Do banks crowd in or out business ethics? : an indirect evolutionary analysis

Güth, Werner - 1998 - Rev.

The evolution of trustworthiness as a major aspect of business ethics depends crucially on whether it can be signaled. If this is impossible, only opportunistic traders will survive. Whereas previous studies have analysed detection agencies (Güth and Kliemt, 1994 and 1998) or have substituted...

Persistent link: https://www.econbiz.de/10009578022

Will banks promote trade? : equilibrium selection for the trust game with banks

Güth, Werner; Ockenfels, Peter - 1998 - Rev.

according to which banks are not used at all. By applying the theory of equilibrium selection it is analysed which of the two …

Persistent link: https://www.econbiz.de/10009578562

Preemption in capacity and price determination : a study of endogenous timing of decisions for homogeneous markets

Güth, Sandra; Güth, Werner - 1998 - Rev.

The theory of industrial organization has experienced an impressive boom by using the methods of (non-cooperative) game … theory. The conclusions depend, however. crucially on subtle details of the market decision processes about which there exist …

Persistent link: https://www.econbiz.de/10009578566