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Persistent link: https://www.econbiz.de/10011947230
This is a survey and discussion of work covering both formal game theory and experimental gaming prior to 1991. It is a useful preliminary introduction to the considerable change and emphasis which has taken place since that time where dynamics, learning, and local optimization have challenged...
Persistent link: https://www.econbiz.de/10014024483
We choose between alternatives without being fully informed about the rewards from different courses of action. In making our decisions, we use our own past experience and the experience of others. So the ways in which we interact - our social network - can influence our choices. These choices...
Persistent link: https://www.econbiz.de/10014025688
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...
Persistent link: https://www.econbiz.de/10010594166
substitutes. The theoretical basis for our experiment is the model of Bramoullé and Kranton (2007). As predicted, we find that … individuals are able to coordinate on equilibria, but that coordination strongly depends on the network structure. Despite … frequent coordination failures, in graphs of size N=4 equilibrium play seems easier on network architectures with high (low …
Persistent link: https://www.econbiz.de/10011049842
This paper investigates the role of endogenous timing of decisions on coordination under asymmetric information. In the … equilibrium of a global coordination game, where players choose the timing of their decision, a player who has sufficiently high … coordination: a learning effect (early decisions reveal information) and a complementarity effect (early decisions eliminate …
Persistent link: https://www.econbiz.de/10011049850
in an experiment where actions are strategic substitutes. The game theoretic basis for our experiment is the model of … play in networks is to some extent boundedly rational, in the sense that coordination is influenced by local and individual …
Persistent link: https://www.econbiz.de/10005136539
market context where the length of the employment relationship is endogenous. In our three-stage gift-exchange experiment … study whether symbolic rewards are used by the employers mainly to praise employees or as a coordination device to build … rewards as a coordination device to initiate relational contracts. Compared to the balanced market condition, assigning …
Persistent link: https://www.econbiz.de/10010597454
The best shot game applied to networks is a discrete model of many processes of contribution to local public goods. It generally has a wide multiplicity of equilibria that we refine through stochastic stability. We show that, depending on how we define perturbations – i.e., possible mistakes...
Persistent link: https://www.econbiz.de/10010577244
Persistent link: https://www.econbiz.de/10011942005