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In contexts in which players have no priors, we analyze a learning process based on ex-post regret as a guide to …
Persistent link: https://www.econbiz.de/10013142432
In contexts in which players have no priors, we analyze a learning process based on ex-post regret as a guide to …. -- Fixed and Random Matching ; Incomplete Information ; Ex-Post Regret Learning ; Nash Equilibrium ; Ex-Post Equilibrium … ; Minimax Regret Equilibrium ; Second-Price Auction ; First-Price Auction ; Bertrand Duopoly …
Persistent link: https://www.econbiz.de/10008688967
We investigate the role of information feedback in rent-seeking games with two different contest structures. In the stochastic contest a contestant wins the entire rent with probability equal to her share of rent-seeking expenditures; in the deterministic contest she receives a share of the rent...
Persistent link: https://www.econbiz.de/10009618920
learning …
Persistent link: https://www.econbiz.de/10014500423
between the realized allocation and the Shapley value. Our experiment shows that H-MC not only results in significantly …
Persistent link: https://www.econbiz.de/10013252972
We analyse how the market design influences the bidding behaviour in multi-unit auctions, such as wholesale electricity markets. It is shown that competition improves for increased market transparency and we identify circumstances where the auctioneer prefers uniform to discriminatory pricing....
Persistent link: https://www.econbiz.de/10011410462
study experimentally to what extent cross-game learning can reduce overbidding in SPAs, taking into account cognitive skills … losses from high bids are more salient than in SPAs. Experience in FPAs causes substantial cross-game learning for … bid shading by cognitively more able participants, resulting in lower profits in FPAs. Thus, cross-game learning has the …
Persistent link: https://www.econbiz.de/10012668312
With a laboratory experiment, we study the impact of buy-options and the corresponding buy-price on revenues and …
Persistent link: https://www.econbiz.de/10011453215
) players' behavior. In addition, our experiment suggests that before participating in the auction stage in our mechanism …
Persistent link: https://www.econbiz.de/10012836381
A contest is a situation in which individuals expend resources in order to win valuable prize(s). 'Sabotage' is a deliberate, and often costly and illegal, act of damaging a rival's likelihood of winning the contest. It is done by exerting resources to negatively influence the effectiveness of a...
Persistent link: https://www.econbiz.de/10013074732