This is a contribution to the growing experimental literature on how trial-and-error adjustment processes can establish a convention for coordination on an equilibrium in a game. A simple bargaining game introduced by Nash is used for this purpose. Subjects are conditioned in different...

We examine an Outside Option Game in which player I submits a claim for a share of a cake while player II simultaneously either makes a claim or chooses to opt out. If player II opts out, then she receives an opt-out payment while player I receives nothing. If player II opts in and if the claims...

We examine an Outside Option Game in which player I submits a claim for a share of a cake while player II simultaneously either makes a claim or chooses to opt out. If player II opts out, then she receives an opt-out payment while player I receives nothing. If player II opts in and if the claims...

There has been much discussion of the relative merits of selling government bonds using a uniform-price auction rather than the traditional discriminatory-price auction. Arguments in favor of the former have won the day in respect of the newly instituted auctions of index-linked bonds in the USA...

This paper finds experimental support for Von Neumann's minimax theory in two-person, zero-sum games.

We examine an Outside Option Game in which player I submits a claim for a share of a cake while player II simultaneously either makes a claim or chooses to opt out. If player II opts out, then she receives an opt-out payment while player I receives nothing. If player II opts in and if the claims...