Showing 1 - 10 of 3,479
evolutionary forces in games played repeatedly in large populations of boundedly rational agents. The approach is macro oriented in …
Persistent link: https://www.econbiz.de/10010335048
Applying unawareness belief structures introduced in Heifetz, Meier, and Schipper (2012), we develop Bayesian games … higher awareness levels and restricted from higher to lower awareness levels. We apply Bayesian games with unawareness to … relationship between standard Bayesian games and Bayesian games with unawareness. …
Persistent link: https://www.econbiz.de/10010282088
Until recently, theorists considering the evolution of human cooperation have paid little attention to institutional punishment, a defining feature of large-scale human societies. Compared to individually-administered punishment, institutional punishment offers a unique potential advantage: the...
Persistent link: https://www.econbiz.de/10011709843
We examine a new class of games, which we call social games, where players not only choose strategies but also choose … players in different roles, among other things. We also examine finite repetitions of games where players may choose to … rematch in any period. Some equilibria of fixed-player repeated games cannot be sustained as equilibria in a repeated social …
Persistent link: https://www.econbiz.de/10010312355
The theory of games against nature relies on complete preferences among all conceivable acts (case 1). Aumann and Drèze …
Persistent link: https://www.econbiz.de/10010317103
Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a …
Persistent link: https://www.econbiz.de/10010324999
actions in games, based on a structural econo- metric model of non-equilibrium behavior in games. The model is based pri …-player guessing games. The application illustrates the empirical relevance of the main features of the model. …
Persistent link: https://www.econbiz.de/10011995514
Anchoring is one of the most studied and robust behavioral biases, but there is little knowledge about its persistence in strategic settings. This article studies the role of anchoring bias in private-value auctions. We test experimentally two different anchor types. The announcement of a random...
Persistent link: https://www.econbiz.de/10012290342
toward the anchor in games where choices are strategic substitutes. …
Persistent link: https://www.econbiz.de/10013197554
We show that for many classes of symmetric two-player games, the simple decision rule 'imitate-if-better' can hardly be … game or a quasiconcave game. Our results apply to many interesting examples of symmetric games including 2 x 2 games …, Cournot duopoly, price competition, public goods games, common pool resource games, and minimum effort coordination games. …
Persistent link: https://www.econbiz.de/10010282081