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In a model of project design, evaluation, and selection, we explore how the incentives to improve the design of projects depend on the availability of funding and the process of evaluation. We show that project designers (researchers or NGOs) prefer to subject their projects to less-rigorous...
Persistent link: https://www.econbiz.de/10012431052
In this paper, we use experimental data to study players' stability in normal-form games where subjects have to report …
Persistent link: https://www.econbiz.de/10011107567
actually use a teaching strategy by playing an action that induces a poor immediate payoff but is likely to modify the opponent … strategy on achieved outcomes and find that efficient teachers can successfully use teaching in order to reach their favorite …
Persistent link: https://www.econbiz.de/10005696779
Persistent link: https://www.econbiz.de/10001529148
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focal point explanation. For the long run, the model predicts that prices converge to the Walrasian outcome. We then use …
Persistent link: https://www.econbiz.de/10001835606
A product set of pure strategies is a prep set ("prep" is short for "preparation") if it contains at least one best reply to any consistent belief that a player may have about the strategic behavior of his opponents. Minimal prep sets are shown to exists in a class of strategic games satisfying...
Persistent link: https://www.econbiz.de/10001638116
We analyze games of incomplete information and offer equilibrium predictions which are valid for, and in this sense robust to, all possible private information structures that the agents may have. We completely characterize the set of Bayes correlated equilibria in a class of games with...
Persistent link: https://www.econbiz.de/10014175012
Inductive game theory captures how a player inductively derives his/her personal views from experiences. The player may have multiple views, some of which differ from the objective situation, but may revise them with further experiences. This paper gives a logical formulation of this revision...
Persistent link: https://www.econbiz.de/10014175594
We define a notion of correlated equilibrium for games with incomplete information in a general setting with finite players, finite actions, and finite states, which we call Bayes correlated equilibrium. The set of Bayes correlated equilibria of a fixed incomplete information game equals the set...
Persistent link: https://www.econbiz.de/10014176751