We introduce a model of product development in a firm. Our model describes the process as a multi-stage contest (i.e., race) with an endogenous length (with one stage or two stages) between two workers. We model the payments to workers from the new product using the normatively appealing Nash...

Chapter 1: Introduction -- Chapter 2: No Honor Among Thieves: The Prisoner’s Dilemma -- Chapter 3: The Players -- Chapter 4: Fool Me Once: The Information Set -- Chapter 5 -- Do Unto Others Cooperation in Games -- Chapter 6: A Stitch in Time Sequential Games -- Chapter 7: I Solemnly Swear...

This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they...