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Reciprocity norm in the U.S. Congress and state assemblies has been studied extensively. By contrast, obedience norms frequently observed in many legislative bodies outside the United States have received relatively little attention. We seek to provide an evolutionary account of obedience norms....
Persistent link: https://www.econbiz.de/10005118519
We model the settlement and litigation process, allowing for incomplete information about the level of damages (incurred by the plaintiff) on the part of both the defendant and the court, and use the model to examine the effect of making (currently inadmissible) settlement demands admissible as...
Persistent link: https://www.econbiz.de/10005118520
The first aim of this contribution is to study the role of cheap talk in the determination of a focal point in a bargaining game. A general discussion was therefore conducted before the bargaining, followed by a poll in which players must find a common solution to an abstract bargaining problem....
Persistent link: https://www.econbiz.de/10005118521
We present a simple model of spatial evolution that avoids several problems that arise with more complex networks of players. We consider a world where pairs of players are matched forever. These players learn from the whole population but they are more likely to learn to strategies used by...
Persistent link: https://www.econbiz.de/10005118522
We propose two generalizations of the Davis Maschler reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's (1978) Coarse Core and the other is a subsolution of it which we call the Coarse+ Core.
Persistent link: https://www.econbiz.de/10005118523
The paper shows that there is a close connection between (constant) consistent conjectures in a given game and evolutionary stability of conjectures. Evolutionarily stable conjectures are consistent and consistent conjectures are the only interior candidates for evolutionary stability.
Persistent link: https://www.econbiz.de/10005118524
We consider partition function games and introduce new defini-tions of the core that include the effects of externalities. We assume that all players behave rationally and that all stable outcomes arising are consistent with the appropriate generalised concept of the core. The result is a...
Persistent link: https://www.econbiz.de/10005118525
In this note I show that there is a mistake in the proof of uniqueness in Engelbrecht-Wiggans, Milgrom and Weber’s seminal “Competitive Bidding and Proprietary Information” and provide a correct proof.
Persistent link: https://www.econbiz.de/10005118526
Epistemic systems are social processes generating judgments of truth and falsity. I outline a mathematical theory of epistemic systems that applies widely. Areas of application include pure science, torture, police forensics, espionage, auditing, clinical medical testing, democratic procedure,...
Persistent link: https://www.econbiz.de/10005118527
We propose a new theory of choice between lotteries, which combines an 'economic’ view of decision making - based on a rational, though incomplete, ordering - with a 'psychological’ view - based on heuristics. This theory can explain observed violations of EU theory, namely all cyclical...
Persistent link: https://www.econbiz.de/10005118528