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Cross-Game Learning and Cognitive Ability in Auctions

Giebe, Thomas; Kocher, Martin; Schudy, Simeon; … - 2021

study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … losses from high bids are more salient than in SPAs. Experience in FPAs causes substantial cross-game learning for … bid shading by cognitively more able participants, resulting in lower profits in FPAs. Thus, cross-game learning has the …

Persistent link: https://www.econbiz.de/10013314693

Induced Price Leadership and (Counter-)Spying Rivals' Play Under Incomplete Information

Fan, Cuihong - 2019

We analyze spying out a rival’s price in a Bertrand market game with incomplete information. Spying transforms a simultaneous into a robust sequential moves game. We provide conditions for profitable espionage. The spied at firm may attempt to immunize against spying by delaying its pricing...

Persistent link: https://www.econbiz.de/10012892109

Optimal Accuracy of Unbiased Tullock Contests with Two Heterogeneous Players

Sahm, Marco - 2022

I characterize the optimal accuracy level r of an unbiased Tullock contest between two players with heterogeneous prize valuations. The designer maximizes the winning probability of the strong player or the winner’s expected valuation by choosing a contest with an all-pay auction equilibrium...

Persistent link: https://www.econbiz.de/10013298366

Strategic Leaks in First-Price Auctions and Tacit Collusion : The Case of Spying and Counter-Spying

Fan, Cuihong; Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2021

We analyze strategic leaks due to spying out a rival’s bid in a first-price auction. Such leaks induce sequential bidding, complicated by the fact that the spy may be a counterspy who serves the interests of the spied at bidder and reports strategically distorted information. This ambiguity...

Persistent link: https://www.econbiz.de/10013231973

Strategic Leaks in First-Price Auctions and Tacit Collusion: The Case of Spying and Counter-Spying

Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - 2021

Persistent link: https://www.econbiz.de/10012582084

Volunteering and the strategic value of ignorance

Morath, Florian - 2011

Private provision of public goods often takes place as a war of attrition: individuals wait until someone else volunteers and provides the good. After a certain time period, however, one individual may be randomly selected. If the individuals are uncertain about their cost of provision, but can...

Persistent link: https://www.econbiz.de/10010274941

Viable Nash Equilibria : An Experiment

Kim, Duk Gyoo; Min, Daehong; Wooders, John - 2022

This paper examines the usefulness of Kalai (2020)’s measure of the viability of Nash equilibrium. We experimentally study a class of participation games, which differ in the number of players, the success threshold, and the payoff to not participating. We find that Kalai’s measure captures...

Persistent link: https://www.econbiz.de/10014077192

Strategic Investment Decisions in Multi-Stage Contests with Heterogeneous Players

Deutscher, Christian - 2019

We study strategic investment decisions in multi-stage contests with heterogeneous players. Our theoretical model of a round-robin rank-order tournament predicts that players conserve resources in a current contest to spend more in the subsequent contest if the degree of heterogeneity in the...

Persistent link: https://www.econbiz.de/10012892111

All Symmetric Equilibria in Differential Games with Public Goods

Jaakkola, Niko - 2020

We characterise the entire set of symmetric stationary Markov-perfect Nash equilibria (MPE) in a differential game of public good investment, using the canonical problem of climate change as an example. We provide a sufficient and necessary condition for MPE and show how the entire set of MPE is...

Persistent link: https://www.econbiz.de/10012834996

Imperfect Signals

Graetz, Georg - 2023

A pre-condition for employer learning is that signals at labor market entry do not fully reveal graduates’ productivity …

Persistent link: https://www.econbiz.de/10014357032