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Tractable dynamic global games and applications

Mathevet, Laurent; Steiner, Jakub - In: Journal of Economic Theory 148 (2013) 6, pp. 2583-2619

depend on the volume of investment, on its volatility, and on its concentration. The solution is driven by an invariance … result: aggregate investment is (in a pivotal contingency) invariant to a large family of frictions. We use the invariance … which frictions discourage harmful behavior without compromising investment volume. …

Persistent link: https://www.econbiz.de/10010719011

The Mainstream Niche

Foucart, Renaud - Department of Economics, Oxford University - 2013

Consumption in the time of Internet is characterized by extremely low search costs, leading to increased product diversity (the long tail) and large mainstream products (superstars). In this paper, I show how the mainstream taste can be catered by a niche product, while minority tastes can be...

Persistent link: https://www.econbiz.de/10011004455

Decision-making in competitive framings—Strategic behavior of chess players in mini-ultimatum game chess puzzles

Bühren, Christoph; Frank, Björn; Krabel, Stefan; … - In: Economics Letters 115 (2012) 3, pp. 356-358

We introduce a competitive framing in the mini-ultimatum game utilizing chess puzzles. Therein, our chess playing participants accept low offers significantly more often compared to a neutral framing. We conclude that in familiar competitive surroundings egoistic behavior is more acceptable.

Persistent link: https://www.econbiz.de/10011041685

Imitation and efficient contagion

Boyer, Tristan; Jonard, Nicolas - In: Journal of Economic Behavior & Organization 100 (2014) C, pp. 20-32

This paper is about the diffusion of cooperation in an infinite population of networked individuals repeatedly playing a Prisoner's Dilemma. We formulate conditions on payoffs and network structure such that, starting from an initial seed group, imitative learning results in the overall adoption...

Persistent link: https://www.econbiz.de/10011048186

Analogies and theories: The role of simplicity and the emergence of norms

Gayer, Gabrielle; Gilboa, Itzhak - In: Games and Economic Behavior 83 (2014) C, pp. 267-283

adopt a theory and discard analogical thinking. If, however, reality is complex, analogical reasoning is unlikely to … playersʼ predictions, convergence to a theory is much more likely. This may explain how a large population of players selects …

Persistent link: https://www.econbiz.de/10011049806

Reversibility in dynamic coordination problems

Kováč, Eugen; Steiner, Jakub - In: Games and Economic Behavior 77 (2013) 1, pp. 298-320

We study a dynamic coordination process in which agents are uncertain about the actions of their fellow agents, and anticipate strategically relevant information. Because of the uncertainty and learning, (ir)reversibility of actions has important strategic consequences. We find that the...

Persistent link: https://www.econbiz.de/10011049901

Disclosure policy in a multi-prize all-pay auction with stochastic abilities

Fu, Qiang; Jiao, Qian; Lu, Jingfeng - In: Economics Letters 125 (2014) 3, pp. 376-380

This paper investigates whether a contest organizer should disclose private information about bidders’ abilities in a multi-prize all-pay auction. Bidders’ abilities are randomly distributed and observed by the contest organizer; the organizer decides whether to disclose this information...

Persistent link: https://www.econbiz.de/10011116211

Imitation and Efficient Contagion

Boyer, Tristan; Jonard, Nicolas - Institut de Préparation à l'Administration et à la … - 2014

This paper is about the diffusion of cooperation in an infinite population of networked individuals repeatedly playing a Prisonerâ€™s Dilemma. We formulate conditions on payoffs and network structure such that, starting from an initial seed group, imitative learning results in the overall...

Persistent link: https://www.econbiz.de/10011161643

Prospects of Tools from Differential Games in the Study Of Macroeconomics of Climate Change

Engwerda, Jacob - Tilburg University, Center for Economic Research - 2012

(dynamic) game theory. A rough literature review is provided and some items open for future research are indicated. …

Persistent link: https://www.econbiz.de/10011091021

Central bank and government in a speculative attack model

Cappelletti, Giuseppe; Esposito, Lucia - Banca d'Italia - 2013

This paper studies the interaction between monetary and fiscal authorities while investors are coordinating on a speculative attack. The authorities want to achieve specific targets for output and inflation but also to avoid a regime change (i.e. sovereign default). They use the traditional...

Persistent link: https://www.econbiz.de/10011099682