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Anderlini, Luca; Felli, Leonardo; Riboni, Alessandro - 2008

In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably … most economic decisions are already taken. Therefore, the advantage of flexibility for Case Law is unavoidably paired with … pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …

Persistent link: https://www.econbiz.de/10010264405

Fending off one means fending off all : evolutionary stability in submodular games

Leininger, Wolfgang - 2004

The implications of evolutionarily stable behavior in finite populations have recently been explored for a variety of aggregative games. This note proves an intimate relationship between submodularity and global evolutionary stability of strategies for these games, which -apart from being of...

Persistent link: https://www.econbiz.de/10010261252

The fatter the tail, the fatter the climate agreement: Simulating the influence of fat tails in climate change damages on the success of international climate negotiations

Dekker, Thijs; Dellink, Rob; Ketterer, Janina - 2013

International climate negotiations take place in a setting where uncertainties regarding the impacts of climate change are very large. In this paper, we examine the influence of increasing the probability and impact of large climate change damages, also known as the 'fat tail', on the formation...

Persistent link: https://www.econbiz.de/10010291562

Evolutionarily stable preferences in contests

Leininger, Wolfgang - 2008

We define an indirect evolutionary approach formally and apply it to (Tullock) contests. While it is known (Leininger, 2003) that the direct evolutionary approach in the form of finite population ESS (Schaffer, 1988) yields more aggressive behavior than in Nash equilibrium, it is now shown that...

Persistent link: https://www.econbiz.de/10010275036

Spite in Litigation

Mill, Wladislaw; Stäbler, Jonathan - 2023

This paper studies how litigation and settlement behavior is affected by agents motivated by spiteful preferences under the American and the English fee-shifting rule. We conduct an experiment and find that litigation expenditures and settlement requests are higher for more spiteful...

Persistent link: https://www.econbiz.de/10014260383

Academic Publication Uncertainty and Publishing Behavior: A Game-Theoretic Perspective

Faria, João Ricardo; Goel, Rajeev K. - 2016

This paper incorporates publication uncertainty in a game between researchers and journal editors and examines its effects on quantity and quality of published research. A stylized differential Stackelberg game between journal editors and academic authors is considered, where authors seek to...

Persistent link: https://www.econbiz.de/10011584875

Information, coordination, and the industrialization of countries

Englmaier, Florian; Reisinger, Markus - 2006

The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency....

Persistent link: https://www.econbiz.de/10010261419

Should courts always enforce what contracting parties write?

Anderlini, Luca; Felli, Leonardo; Postlewaite, Andrew - 2006

We find an economic rationale for the common sense answer to the question in our title courts should not always enforce what the contracting parties write. We describe and analyze a contractual environment that allows a role for an active court. An active court can improve on the outcome that...

Persistent link: https://www.econbiz.de/10010264017

Active courts and menu contracts

Anderlini, Luca; Felli, Leonardo; Postlewaite, Andrew - 2006

We describe and analyze a contractual environment that allows a role for an active court. The model we analyze is the same as in Anderlini, Felli, and Postlewaite (2006). An active court can improve on the outcome that the parties would achieve without it. The institutional role of the court is...

Persistent link: https://www.econbiz.de/10010264021

Information, uncertainty, and subjective entitlements in bargaining

Karagözoğlu, Emin; Riedl, Arno - 2010

More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...

Persistent link: https://www.econbiz.de/10010274419

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