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We experimentally compare two well-known mechanisms inducing the Shapley value as an ex ante equilibrium outcome of a noncooperative bargaining procedure: the demand-basedWinter's demand commitment bargaining mechanism and the offer-based Hart and Mas-Colell procedure. Our results suggest that...
Persistent link: https://www.econbiz.de/10013252966
We experimentally compare a simplified version of two mechanisms that implement the Shapley value as an (ex ante) equilibrium outcome of a noncooperative bargaining procedure: one proposed by Hart and Mas-Colell (1996, H-MC) and the other by Perez-Castrillo and Wettstein (2001, PC-W). While H-MC...
Persistent link: https://www.econbiz.de/10013252972
This paper aims to contribute to the literature on Nash program by experimentally comparing the results of "structured" (non-cooperative) demand-based and offer-based mechanisms that implement the Shapley value as an ex-ante equilibrium outcome with the results of corresponding "semi-structured"...
Persistent link: https://www.econbiz.de/10014451922
network structure and we examine equilibrium selection. Specifically, actions are either strategic substitutes or strategic … complements, and participants have either complete or incomplete information about the structure of a random network. Since … networks, such as connectivity, clustering, and the degree of the players, help to predict informed behavior in the lab. People …
Persistent link: https://www.econbiz.de/10013055226
Persistent link: https://www.econbiz.de/10010354731
network structure and we examine equilibrium selection. Specifically, actions are either strategic substitutes or strategic … complements, and participants have either complete or incomplete information about the structure of a random network. Since … networks, such as connectivity, clustering, and the degree of the players, help to predict informed behavior in the lab. People …
Persistent link: https://www.econbiz.de/10010344833
reveal the presence of anti-competitive foreclosure. The bundling of mobile phones with cellular network service offers one … subsidies, which are strongly supported by bundling services with hardware, help internalize network effects that, if … unsupported by the network carriers, may go unrealized. Vertical integration here appears to assist in productive ecosystem …
Persistent link: https://www.econbiz.de/10014037204
Persistent link: https://www.econbiz.de/10014552724
The aim of this paper is to extend Hamilton and Slutsky's (1990) endogenous timing game by including the possibility for players to cooperate. At an initial stage players are assumed to announce both their purpose to play early or late a given duopoly game as well as their intention to cooperate...
Persistent link: https://www.econbiz.de/10014179354
A longstanding criticism of the core is that it is too sensitive to small changes in player numbers, as in a well known example where one extra seller (resp. buyer) causes the entire surplus to go to the buyer's (seller's) side. We test this example in the lab, using several different trading...
Persistent link: https://www.econbiz.de/10013238103