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Imitation dynamics in oligopoly games with heterogeneous players

Lindeman, Daan; Ochea, Marius I. - In: Games 15 (2024) 2, pp. 1-26

framework of evolutionary competition between rational, myopic best-response and imitation heuristics with differential … heuristic (Cournot best-response) and the stable one (imitation) and on the intensity of the evolutionary pressure. When this … cost differential is positive (i.e., imitation is relatively cheaper vis a vis Cournot), most firms use this heuristic and …

Persistent link: https://www.econbiz.de/10014636241

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

Price competition and nominal illusion: experimental evidence and a behavioural model

Morales, Antonio J.; Fatas, Enrique - In: SERIEs : Journal of the Spanish Economic Association 12 (2021) 4, pp. 607-632

The standard approach to nominal illusion in Economics sees it as a transitory phenomenon, as economic agents eventually see through the nominal veil, making the right choices. Recent empirical studies suggest that money illusion may persist, distorting real prices in a variety of economic...

Persistent link: https://www.econbiz.de/10012694352

Is voting for a cartel a sign of cooperativeness?

Gillet, Joris - In: Games 12 (2021) 2, pp. 1-10

hypothesis we run an experiment where participants play two consecutive Bertrand pricing games: first a standard version without …

Persistent link: https://www.econbiz.de/10012547790

Contests with sequential entry and incomplete information

Deng, Shanglyu; Fu, Qiang; Wu, Zenan; Zhu, Yuxuan - In: Theoretical economics : TE ; an open access journal in … 19 (2024) 2, pp. 705-742

This paper provides a general study of a contest modeled as a multiplayer incomplete-information, all-pay auction with sequential entry. The contest consists of multiple periods. Players arrive and exert efforts sequentially to compete for a prize. They observe the efforts made by their earlier...

Persistent link: https://www.econbiz.de/10014576711

Absolute vs. relative poverty and wealth : cooperation in the presence of between-group inequality

Levi, Eugenio; Ramalingam, Abhijit - 2023

comes from studies of within-group inequality. In an online public goods experiment, we instead examine the effects of …

Persistent link: https://www.econbiz.de/10014500522

Cartel formation in Cournot competition with asymmetric costs : a partition function approach

Abe, Takaaki - In: Games 12 (2021) 1/14, pp. 1-16

In this paper, we use a partition function form game to analyze cartel formation among firms in Cournot competition. We assume that a firm obtains a certain cost advantage that allows it to produce goods at a lower unit cost. We show that if the level of the cost advantage is "moderate", then...

Persistent link: https://www.econbiz.de/10012432603

Bayesian fictitious play in oligopoly : the case of risk-averse agents

Yazar, Julide - In: Games 15 (2024) 6, pp. 1-15

A number of learning models have been suggested to analyze the repeated interaction of boundedly rational agents … uncertainty in their reward stream, in addition to the expected value of the future rewards. Learning in oligopoly models for the … case of risk-averse agents has received much less attention. In this paper, we present a novel learning model that extends …

Persistent link: https://www.econbiz.de/10015271474

Communication-enhancing vagueness

Wood, Daniel H. - In: Games 13 (2022) 4, pp. 1-27

I experimentally investigate how vague language changes the nature of communication in a biased strategic information transmission game. Counterintuitively, when both precise and imprecise messages can be sent, in aggregate, senders are more accurate, and receivers trust them more than when only...

Persistent link: https://www.econbiz.de/10013367782

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