This paper explores the rationality of status concerns amongst co-workers and the impact of such rational status concerns on a firm's profits. We find that it is individually rational for agents in a firm to develop and exhibit status concerns. Workers are, by their choices of status concerns,...

In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to the behavior of similar individuals. A fundamental question is whether the outcome of such behavior can be consistent with self-interest. We propose that this consistency...

In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to that of similar individuals. A fundamental question is whether the outcome of such conformity can be consistent with self-interest. We propose that this consistency...

We introduce a framework of noncooperative pregames, in which players are characterized by their attributes, and demonstrate that for all games with sufficiently many players, there exist approximate (e )Nash equilibria in pure strategies. In fact, every mixed strategy equilibrium can be used to...