We experimentally study the effect of a third-person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that when the third person can observe these two persons’ play, the possibility of the...

We experimentally study the effect of a third person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that when the third person can observe these two persons’ play, the possibility of the...

Goods whose benefits increase as the number of users increases, such as fax machines and electric cars, are called "network products," and their related effects are called "network externalities." The diffusion of network products is hampered by private or incomplete information because players...

We experimentally investigated whether continuous-time cheap talk improves the effort level in a minimal effort game with multiple Pareto-ranked Nash equilibria. In each round of the game, a player freely changes the message before he or she makes decisions, and constantly monitors other...

We experimentally investigated whether feedback received by participants improves the effort level in a minimum effort game involving continuous-time cheap talk. Continuous-time cheap talk allows participants to freely change and constantly monitor other group members' messages. We used two...

This paper compares efficiencies of double auction and bilateral trading in GHG emission trading experiments with the addition of two rules, abatement irreversibility of GHG emissions and non-compliance penalty, to Hizen and Saijo (1998). Using a new concept of equilibrium, we found that (i)...