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Can fear cause economic collapse? Insights from an experimental study

Guarino, Antonio; Huck, Steffen; Jeitschko, Thomas D. - Abteilung "Marktprozesse und Steuerung", … - 2004

We study the behavior of experimental subjects who have to make a sequence of risky investment decisions in the presence of network externalities. Subjects follow a simple heuristic – investing after positive experiences and reducing their propensity to invest after a failure. This result...

Persistent link: https://www.econbiz.de/10009367854

Common and almost common knowledge of credible assignments in a coordination game

Chaudhuri, Ananish; Zhou, Chenan; Prak, Parapin; … - In: Economics Bulletin 3 (2006) 1, pp. 1-10

-hunt type coordination game with two Pareto-ranked equilibria, one payoff dominant and the other risk dominant. The majority of …

Persistent link: https://www.econbiz.de/10005094760

Common and almost common knowledge of credible assignments in a coordination game

Chaudhuri, Ananish; Zhou, Chenan; Prak, Parapin; … - In: Economics Bulletin 3 (2006) 1, pp. 1-10

-hunt type coordination game with two Pareto-ranked equilibria, one payoff dominant and the other risk dominant. The majority of …

Persistent link: https://www.econbiz.de/10010629213

The Power of an Outside Option that Generates a Focal Point: An Experimental Investigation

Shahriar, Quazi - In: Economics Bulletin 31 (2011) 3, pp. 2151-2158

Existing experimental studies (Cooper, DeJong, Forsythe and Ross, 1993; Shahriar, 2009) have shown that an outside option, when offered to one of the two players who later participate in a battle-of-the-sexes game, makes the equilibrium that favors the same player focal. This focal point arises even...

Persistent link: https://www.econbiz.de/10011278681

Signaling in Deterministic and Stochastic Settings

Jeitschko, Thomas D.; Normann, Hans-Theo - Department of Economics, Royal Holloway University of London - 2009

We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With stochastic signals a unique equilibrium emerges that involves separation and has intuitive comparative-static properties as the degree of signaling depends on the prior type...

Persistent link: https://www.econbiz.de/10008509455

Do buyer groups facilitate collusion?

Normann, Hans-Theo; Rösch, Jürgen; Schultz, Luis Manuel - In: Journal of Economic Behavior & Organization 109 (2015) C, pp. 72-84

firms. Communication is often abused for explicit agreements and this strongly reduces competition. …

Persistent link: https://www.econbiz.de/10011190130

Do buyer groups facilitate collusion?

Normann, Hans-Theo; Rösch, Jürgen; Schultz, Luis Manuel - Düsseldorf Institute for Competition Economics (DICE), … - 2014

firms. Communication is often abused for explicit agreements and this strongly reduces competition. …

Persistent link: https://www.econbiz.de/10010983935

Explicit vs. tacit collusion—The impact of communication in oligopoly experiments

Fonseca, Miguel A.; Normann, Hans-Theo - In: European Economic Review 56 (2012) 8, pp. 1759-1772

We explore the difference between explicit and tacit collusion by investigating the impact communication has in … largest additional profit from talking. We also find that industries continue to collude successfully after communication is … disabled. Communication supports firms in coordinating on collusive pricing schemes, and it is also used for conflict mediation. …

Persistent link: https://www.econbiz.de/10011048634

Language and government coordination: An experimental study of communication in the announcement game

Agranov, Marina; Schotter, Andrew - In: Journal of Public Economics 104 (2013) C, pp. 26-39

focus on communication strategy that government uses to communicate private information to the citizens. This communication … execute a communication strategy does affect the efficiency of the equilibrium convergence process and also demonstrate that … subjects playing the role of the government exhibit a great deal of sophistication in the communication strategies they employ …

Persistent link: https://www.econbiz.de/10011056200

Explicit vs. tacit collusion: The impact of communication in oligopoly experiments

Fonseca, Miguel A.; Normann, Hans-Theo - Düsseldorf Institute for Competition Economics (DICE), … - 2012

We explore the difference between explicit and tacit collusion by investigating the impact communication has in … largest additional profit from talking. We also find that industries continue to collude successfully after communication is … disabled. Communication supports fims in coordinating on collusive pricing schemes, and it is also used for conflict mediation. …

Persistent link: https://www.econbiz.de/10010956703