A generalization of transferable utility cooperative games from the functional forms introduced by von Neumann and Morgenstern (1944, Theory of Games and Economic Behavior) and Lucas and Thrall (1963, Naval Research Logistics Quarterly, 10, 281-298) is proposed to allow for multiple membership....

How humans behave in repeated strategic interactions, how they learn, how their decisions adapt, and how their decision-making evolves is a topic of fundamental interest in behavioral economics and behavioral game theory. The range of motives and decision-making principles that are at play in...

Decentralized matching markets on the internet allow large numbers of agents to interact anonymously at virtually no cost. Very little information is available to market participants and trade takes place at many different prices simultaneously. We propose a decentralized, completely uncoupled...

We test the game-theoretic foundations of common-pool resources using an individual-level dataset of groundwater usage that accounts for 3% of US irrigated agriculture. Using necessary and sufficient revealed preference tests for dynamic games, we find: (i) a rejection of the standard...

We consider an environment where players are involved in a public goods game and must decide repeatedly whether to make an individual contribution or not. However, players lack strategically relevant information about the game and about the other players in the population. The resulting behavior...

Analyzing data from a laboratory experiment on coordination games, we tested competing models of deviations from myopic best-reply dynamics to understand 'what kind of noise' is supported by behavioral evidence. This empirical analysis complements a growing theoretical literature on 'how noise...

We address some open issues regarding the characterization of double auctions. Our model is a two-sided commodity market with either finitely or infinitely many traders. We first unify existing formulations for both finite and infinite markets and generalize the characterization of market...

Fees are omnipresent in markets but, with few exceptions, are omitted in economic models-such as Double Auctions-of these markets. Allowing for general fee structures, we show that their impact on incentives and efficiency in large Double Auctions hinges on whether the fees are homogeneous (as,...