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The evolution of networks and local public good provision : a potential approach

Kinateder, Markus; Merlino, Luca Paolo - In: Games 12 (2021) 3, pp. 1-12

In this paper, we propose a game in which each player decides with whom to establish a costly connection and how much local public good is provided when benefits are shared among neighbors. We show that, when agents are homogeneous, Nash equilibrium networks are nested split graphs....

Persistent link: https://www.econbiz.de/10012591497

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, designed for games with continuous action sets, which...

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

Countering the winner's curse : optimal auction design in a common value model

Bergemann, Dirk; Brooks, Ben; Morris, Stephen - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 4, pp. 1399-1434

the allocation towards bidders with lower signals. This can be implemented via a modified Vickrey auction, where there is … a random reserve price for just the high bidder. The resulting allocation induces a â€œwinner's blessing,â€ whereby the … because of the winner's curse generated by the allocation rule. Our qualitative results extend to more general common value …

Persistent link: https://www.econbiz.de/10012415457

Cheap talk games with two-senders and different modes of communication

Bayindir, Esra E.; Gurdal, Mehmet Y.; Ozdogan, Ayca; … - In: Games 11 (2020) 2/18, pp. 1-22

This paper deals with the effects of different modes of communication in a costless information transmission environment with multiple senders. To this aim, we present a theoretical and experimental study of three Cheap Talk games, each having two senders and one receiver. The communication of...

Persistent link: https://www.econbiz.de/10012431852

Information transmission and countervailing biases in organizations

Chiba, Saori - In: Games 15 (2024) 3, pp. 1-25

A decision maker (DM) must choose between two projects or decide on no project. The expected benefits of these projects are correlated. The DM seeks advice from an agent with private information about the projects' benefits. However, the agent's divergent preferences for projects and lack of...

Persistent link: https://www.econbiz.de/10014636248

Bandits in the lab

Hoelzemann, Johannes; Klein, Nicolas Alexandre - In: Quantitative economics : QE ; journal of the … 12 (2021) 3, pp. 1021-1051

We experimentally implement a dynamic public-good problem, where the public good in question is the dynamically evolving information about agents' common state of the world. Subjects' behavior is consistent with free-riding because of strategic concerns. We also find that subjects adopt more...

Persistent link: https://www.econbiz.de/10012598548

Information aggregation in competitive markets

Siga, Lucas; Mihm, Maximilian - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 1, pp. 161-196

We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our main result identifies a property of information---the betweenness property---that is both necessary and sufficient for information aggregation. The characterization provides...

Persistent link: https://www.econbiz.de/10012415617

Estimating case-based learning

Guilfoos, Todd; Pape, Andreas D. - In: Games 11 (2020) 3/38, pp. 1-25

We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information available to the experimental subjects in a simple,...

Persistent link: https://www.econbiz.de/10012432206

Communication, expectations, and trust : an experiment with three media

Abatayo, Anna Lou; Lynham, John; Sherstyuk, Katerina - In: Games 11 (2020) 4/48, pp. 1-26

We studied how communication media affect trust game play. Three popular media were considered: traditional face-to-face, Facebook groups, and anonymous online chat. We considered post-communication changes in players' expectations and preferences, and further analyzed the contents of group...

Persistent link: https://www.econbiz.de/10012432337

Bilateral trade with a benevolent intermediary

Eilat, Ran; Pauzner, Ady - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 4, pp. 1655-1714

We study intermediaries who seek to maximize gains from trade in bilateral negotiations. Intermediaries are players: they cannot commit to act against their objective function and deny, in some cases, trade they believe to be beneficial. This impairs their ability to assist the parties relative...

Persistent link: https://www.econbiz.de/10012806593