Showing 1 - 10 of 13,069
A well known problem in economics is to describe properly a situation where N agents are repeatedly competing to use the same limited resource. A version of this problem is known in the literature as the El Farol game: week after week N agents face the decision whether to go or not to go to a...
Persistent link: https://www.econbiz.de/10005537605
We build a workable game of common-property resource extraction under rational Bayesian learning about the reproduction prospects of a resource. We focus on Markov-perfect strate- gies under truthful revelation of beliefs. For reasonable initial conditions, exogenously shif- ting the prior...
Persistent link: https://www.econbiz.de/10011095237
I present a model of social learning over an exogenous, directed network that may be readily nested within broader macroeconomic models with dispersed information and combines the attributes that agents (a) act repeatedly and simultaneously; (b) are Bayes-rational; and (c) have strategic...
Persistent link: https://www.econbiz.de/10011126293
I present a model of social learning over an exogenous, directed network that may be readily nested within broader macroeconomic models with dispersed information and combines the attributes that agents (a) act repeatedly and simultaneously; (b) are Bayes-rational; and (c) have strategic...
Persistent link: https://www.econbiz.de/10011185813
I develop a novel model of group-based deliberation in which communication is costly in two directions: agents must pay separate costs to send and to receive messages. Equilibrium strategies have an intuitive characterization - those with the best information send, those with the worst...
Persistent link: https://www.econbiz.de/10010878532
We implement the Battaglini (2002) model of multi-sender-multi-dimension cheap talk in the laboratory, analyzing the effects of sender competition on information transmission. Our results indicate that competing senders provide enough information for close to full revelation, but receiver`s...
Persistent link: https://www.econbiz.de/10010878536
I develop a novel model of group-based deliberation in which communication is costly in two directions: agents must pay separate costs to send and to receive messages. Equilibrium strategies have an intuitive characterization - those with the best information send, those with the worst...
Persistent link: https://www.econbiz.de/10010878541
In this paper, a model of an ecosystem influenced by a large human population is presented. It is modelled by a discrete time dynamic game with many players and a simple dynamics. The paper proposes a new way to look at the problems of exploitation of ecosystems by many users — using the...
Persistent link: https://www.econbiz.de/10010885178
I present a model of social learning over an exogenous, directed network that may be readily nested within broader macroeconomic models with dispersed information and combines the attributes that agents (a) act repeatedly and simultaneously; (b) are Bayes-rational; and (c) have strategic...
Persistent link: https://www.econbiz.de/10010839043
We apply the dynamic stochastic framework proposed by recent evolutionary literature to the class of strict supermodular games when two simple behavior rules coexist in the population, imitation and myopic optimization.
Persistent link: https://www.econbiz.de/10005783558