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Plato as a game theorist towards an international trade policy

Halkos, George E.; Kyriazēs, Nikos K.; Economou, … - In: Journal of risk and financial management : JRFM 14 (2021) 3/115, pp. 1-15

In the beginning of the second book of his Politeia (Republic) Plato in passage 2.358e-359a-c raises the issue of the administration of justice as a means of motivating people to behave fairly regarding their relationships and when cooperating with each other because, at the end, this is...

Persistent link: https://www.econbiz.de/10012485255

The Achilles tendon of dynamic pricing : the effect of consumers' fairness preferences on platform's dynamic pricing strategies

Wang, Yong; Tang, Tianze; Zhang, Weiyi; Sun, Zhen; … - In: Journal of Internet and Digital Economics 1 (2021) 1, pp. 15-35

Purpose In this paper, the authors study the effect of consumers' fairness preferences on dynamic pricing strategies adopted by platforms in a non-cooperative game. Design/methodology/approach This study applies fair game and repeated game theory. Findings This study reveals that, in a one-shot...

Persistent link: https://www.econbiz.de/10014433778

Common learning and cooperation in repeated games

Sugaya, Takuo; Yamamoto, Yuichi - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 1175-1219

We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex-post equilibria. In our equilibria, players commonly learn the state, that is, the...

Persistent link: https://www.econbiz.de/10012309585

Inequity aversion and limited foresight in the repeated prisoner's dilemma

Backhaus, Teresa; Breitmoser, Yves - 2021

Reanalyzing 12 experiments on the repeated prisoner's dilemma (PD), we robustly observe three distinct subject types: defectors, cautious cooperators and strong cooperators. The strategies used by these types are surprisingly stable across experiments and uncorrelated with treatment parameters,...

Persistent link: https://www.econbiz.de/10012605817

Uncertainty-driven cooperation

Cetemen, Doruk; Hwang, Ilwoo; Kaya, Ayça - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 1023-1058

We consider dynamic team production in the presence of uncertainty. Team members receive interim feedback that depends on both their current effort level and the project's uncertain prospects. In this environment, each member can encourage the others by making them more optimistic about the...

Persistent link: https://www.econbiz.de/10012308721

Reputation building under uncertain monitoring

Deb, Joyee; Ishii, Yuhta - In: Theoretical economics : TE ; an open access journal in … 20 (2025) 1, pp. 169-208

We study the standard reputation model with a long-run (LR) player facing a sequence of short-run (SR) opponents, with one difference: the SR players are uncertain about the monitoring structure, while the LR player knows it. We construct examples where the standard reputation result breaks...

Persistent link: https://www.econbiz.de/10015332592

Learning with minimal information in continuous games

Bervoets, Sebastian; Bravo, Mario; Faure, Mathieu - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 4, pp. 1471-1508

While payoff-based learning models are almost exclusively devised for finite action games, where players can test every … action, it is harder to design such learning processes for continuous games. We construct a stochastic learning rule …

Persistent link: https://www.econbiz.de/10012415470

Renegotiation of long‐term contracts as part of an implicit agreement

Kostadinov, Rumen - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 4, pp. 1471-1512

contract renegotiation is a powerful tool for incentive provision, despite the stationarity of the environment. Continuation … contracts are renegotiated away. This form of anticipated renegotiation results in welfare improvements over outcomes attainable … shown to satisfy various concepts of renegotiation‐proofness. …

Persistent link: https://www.econbiz.de/10012806553

Robust relational contracts with subjective performance evaluation

Bhaskar, V.; Olszewski, Wojciech; Wiseman, Thomas - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 3, pp. 1027-1055

We study a repeated principal-agent model with transferable utility, where the principal's evaluation of the agent's performance is subjective. Our focus is on equilibria which are robust to the addition of small privately observed shocks to the payoffs. Existing constructions of positive-effort...

Persistent link: https://www.econbiz.de/10014635277

Sixty-seven years of the Nash program : time for retirement?

Serrano, Roberto - In: SERIEs : Journal of the Spanish Economic Association 12 (2021) 1, pp. 35-48

The Nash program is an important research agenda initiated in Nash (Econometrica 21:128-140, 1953) in order to bridge the gap between the noncooperative and cooperative counterparts of game theory. The program is thus turning sixty-seven years old, but I will argue it is not ready for...

Persistent link: https://www.econbiz.de/10012503895