Showing 1 - 10 of 108
We here develop a model of pre-play communication that generalizes the cheap-talk approach by allowing players to have … is applied to finite and symmetric two-player games and we establish that honest communication and play of the Pareto … dominant Nash equilibrium together characterize the unique evolutionarily stable set in generic and symmetric n×n-coordination …
Persistent link: https://www.econbiz.de/10010281162
We here develop a model of pre-play communication that generalizes the cheap-talk approach by allowing players to have … is applied to finite and symmetric two-player games and we establish that honest communication and play of the Pareto … dominant Nash equilibrium together characterize the unique evolutionarily stable set in generic and symmetric n×n-coordination …
Persistent link: https://www.econbiz.de/10005649475
×2 games. One-way communication weakly increases coordination on Nash equilibrium outcomes, although average payoffs sometimes … of symmetric 2×2 games, we find that communication facilitates coordination in common interest games with positive … spillovers and strategic complementarities, but there are also games in which any type of communication hampers coordination. …
Persistent link: https://www.econbiz.de/10005771174
We model organizational decision making as costless pre-play communication. Decision making is called authoritarian if …
Persistent link: https://www.econbiz.de/10010281254
We model organizational decision making as costless pre-play communication. Decision making is called authoritarian if …
Persistent link: https://www.econbiz.de/10005649273
There has been a revival of interest in small industries and their linkages with a nation's institutional arrangements, among both academicians and policy makers. Extending the definition of institutions to include formal and informal rules, this paper attempts to identify these linkages using...
Persistent link: https://www.econbiz.de/10005649347
We propose a political theory for the slow adoption of technology in sports and other contests. We investigate players' preferences for new technology that improves contest accuracy. Modeling accuracy as the elasticity of "production" in a standard Tullock contest, we show that players may be...
Persistent link: https://www.econbiz.de/10011381250
In Young (1993, 1998) agents are recurrently matched to play a finite game and almost always play a myopic best reply to a frequency distribution based on a sample from the recent history of play. He proves that in a generic class of finite n-player games, as the mutation rate tends to zero,...
Persistent link: https://www.econbiz.de/10010281156
It has been argued that having a contract market before the spot market enhances competition (Allaz and Vila, 1993). Taking into account the repeated nature of electricity markets, we check the robustness of the argument that the access to contract markets reduces the market power of generators....
Persistent link: https://www.econbiz.de/10010281160
Saez-Marti and Weibull [4] investigate the consequences of letting some agents play a myopic best reply to the myopic best reply in Young's [8] bargaining model. This is how they introduce cleverness of players. We analyze such clever agents in general finite two-player games. We show that...
Persistent link: https://www.econbiz.de/10010281177