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Persistent link: https://www.econbiz.de/10011399369
Assuming inequality averse subjects as modeled by Fehr and Schmidt (1999) or in the ERC model by Bolton and Ockenfels (2000) in ultimatum games with asymmetric conflict payoffs allows to make predictions especially concerning responder acceptance thresholds. These predictions are tested in a...
Persistent link: https://www.econbiz.de/10005866680
Idiosyncratic risk attitudes are usually assumed to be commonly knownand restricted to own payos. However, the alternatives faced by a decisionmaker often involve risks for others' payos as well. Motivated by theimportance of other-regarding preferences in social interactions, this paperexplores...
Persistent link: https://www.econbiz.de/10005866833
The paper compares two models of evolution in symmetric twoplayergames with incomplete information. One model postulates thatthe type of a player is fixed, and evolution works within types. Inthe other model type-contingent strategies evolve. In the case of twotypes and two strategies it is...
Persistent link: https://www.econbiz.de/10005868794
marginally only affects his own payoff.The altruist can reach her first best when she moves last if and only if a selfish … agentcannot manipulate the price of his payoff... …
Persistent link: https://www.econbiz.de/10005868926
Noncooperative games in which each player’s payo¤ function depends on anadditively separable function of every player’s choice variable may be transformedinto an aggregative game, which may be analysed using the conceptof ‘share functions’. The resulting approach avoids the...
Persistent link: https://www.econbiz.de/10005868958
The rent-seeking model of Tullock (1980) has stimulated a large literature on rent-seekingcontests, of which Hillman (1989) and Nitzan (1994) provide useful surveys. AlthoughTullock's 'winner take all' model has been adapted and extended in numerous ways, thereremain fundamental modeling issues,...
Persistent link: https://www.econbiz.de/10005869062
Player i's payoff in a noncooperative game is generally expressed as a function of thevector of strategies of all …
Persistent link: https://www.econbiz.de/10005869076
selection theory (Harsanyi and Selten 1988), only half of the subjects choose the strategy that relates to the payoff- and risk …-dominant equilibrium. We propose modified risk dominance as an explanation for the observed deviations from payoff and risk dominance. …
Persistent link: https://www.econbiz.de/10005850488
[...]The purpose of this article is to develop a clearerpicture of the importance of payments services to the bankingindustry. This goal is served by taking a broad view of thepayments business and analyzing information provided bylarge bank holding companies (BHCs) in their annualreports. BHCs...
Persistent link: https://www.econbiz.de/10005870063