Showing 1 - 7 of 7
Games that have no evolutionarily stable strategy may very well have neutrally stable ones. (Neutrally stable strategies are also known as weakly evolutionarily stable strategies.) Such neutrally, but not evolutionarily stable strategies can however still be relatively stable or unstable,...
Persistent link: https://www.econbiz.de/10010597539
Persistent link: https://www.econbiz.de/10005408787
In this paper, we present the results of two experiments on social sampling, where people make a risky decision after they have sampled the behavior of others who have done exactly the same problem before them. In an individual decision making problem as well as in the takeover game, the simple...
Persistent link: https://www.econbiz.de/10005408911
This paper presents an experimental study of a mechanism that is commonly used to sell multiple heterogeneous goods. The novel feature of this procedure is that instead of selling each good in a separate auction, the seller executes a single auction in which buyers, who may be interested in...
Persistent link: https://www.econbiz.de/10005409255
We introduce noise in the signaling technology of an otherwise standard wasteful signaling model (Spence, 1973). We theoretically derive the properties of the equilibria under different levels of noise and we experimentally test how behavior changes with noise. We obtain three main insights....
Persistent link: https://www.econbiz.de/10010573652
Persistent link: https://www.econbiz.de/10005409034
This paper studies the use of discretionary rewards in a finitely repeated principal-agent relationship with moral hazard. The key aspect is that rewards have informational content. When the principal obtains a private subjective signal about the agent's performance, she may pay discretionary...
Persistent link: https://www.econbiz.de/10008483518