We experimentally investigated whether feedback received by participants improves the effort level in a minimum effort game involving continuous-time cheap talk. Continuous-time cheap talk allows participants to freely change and constantly monitor other group members' messages. We used two...

We experimentally study the effect of a third person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that when the third person can observe these two persons’ play, the possibility of the...

We hypothesised that people and companies non-anonymously donate to signal their intention to cooperate with observers; consequently, non-anonymous donation works as a coordination device between donors and observers. To test this, we conducted a laboratory experiment where a participant...

This experimental study measures three types of overconfidence in the decision behavior of participants from Germany and Japan. In the first stage of the experiment subjects completed a Raven Progressive Matrices test and subsequently assessed their test performance in absolute and relative...

There are a lot of goods which have network externalities. While the number of players who have such a good is small, they may not get enough utility from the goods. That is, players have an incentive to delay their decision, when they purchase the goods with network externalities. Delay causes...

We proposed two types of econometric models, a spatially clustered fixed-effects model (SCFEM) and a spatially correlated random-effects model (SCREM), to examine area-based panel data. We investigate what factors influence housing construction in the Tokyo Metropolitan Area, incorporating...

Goyal and Joshi (2006, Int Econ Review) apply the notion of ``pairwise stable networks" introduced by Jackson and Wolinsky (1996, J Econ Theory) to a model of free trade network formation, and show that (i) every pairwise stable network is either complete or almost complete (with all countries...

We theoretically study the effect of a third person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that the possibility of the third person’s future punishment causes them to cooperate in...

Goods whose benefits increase as the number of users increases, such as fax machines and electric cars, are called "network products," and their related effects are called "network externalities." The diffusion of network products is hampered by private or incomplete information because players...