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We study the efficient allocation of a single object over a finite time horizon. Buyers arrive randomly over time, are long-lived, and have independent private values. The valuation of a buyer may depend on the time of the allocation in an arbitrary way. We construct an incentive compatible...
Persistent link: https://www.econbiz.de/10010719485
This paper studies the effects of analogy-based expectations in static two-player games of incomplete information. Players are assumed to be boundedly rational in the way they forecast their opponent's state-contingent strategy: they bundle states into analogy classes and play best-responses to...
Persistent link: https://www.econbiz.de/10005409098
Persistent link: https://www.econbiz.de/10005409138
We consider a multi-game interactive learning environment in which subjects sometimes only have access to the aggregate distribution of play of the opponents over the various games and sometimes are told the joint distribution of actions and games in a more or less accessible way. Our main...
Persistent link: https://www.econbiz.de/10008865874