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Agents interacting on a body of water choose between technologiesto catch …sh. One is harmless to the resource, as it allows full recovery;the other yields high immediate catches, but low(er) future catches.Strategic interaction in one ‘objective’resource game may induceseveral ‘subjective’...
Persistent link: https://www.econbiz.de/10009138584
We introduce a stochastic game in which transition probabilitiesdepend on the history of the play, i.e., the players’past action choices.To solve this new type of game under the limiting average reward crite-rion, we determine the set of jointly-convergent pure-strategy rewardswhich can be...
Persistent link: https://www.econbiz.de/10009138613
In a Small Fish War two agents interacting on a body of waterhave essentially two options: they can …sh with restraint or without.Fishing with restraint is not harmful; …shing without yields a higherimmediate catch, but may induce lower future catches.Inspired by recent work in biology, we...
Persistent link: https://www.econbiz.de/10005865887
To analyze strategic interaction which may induce externalities, we designed Bathroom Games with frequency-dependent stage payoffs. Two people regularly use a bathroom, before leaving they can either clean up the mess made, or not. Cleaning up involves an effort, so this option always gives a...
Persistent link: https://www.econbiz.de/10005866049
This paper explores the statistical properties of household consumption-expenditure budgetshares distributions (HBSDs) —defined as the share of household total expenditurespent for purchasing a specific category of commodities— for a large sample of Italianhouseholds in the period 1989-2004....
Persistent link: https://www.econbiz.de/10005867794