This paper reports results from a laboratory experiment on a continuous Japanese-English auction in a common-value 'wallet game'. The main objective is to test whether bidders follow the equilibrium bidding strategy predicted by theory. We find systematic deviations from equilibrium behaviour:...

We replicate Horváth (2025), experimentally studying link formation and effort in a linear-quadratic game with positive externalities. Across five treatments, subjects exert 38-97 percent more effort than the Nash benchmark yet create too few links, depressing payoffs. In groups of five, the...

The paper examines how the timing of decisions shapes outcomes in coordination settings. Theoretically, the outcomes become predictable and efficient when decisions are made sequentially rather than simultaneously. Our experimental evidence shows that sequential moves promote remarkably high...

This paper analyzes the pricing dynamics of product warranties by developing a three-player hierarchical game model involving a manufacturer, an independent service agent, and a consumer. The model provides a scenario where the manufacturer and the agent form a coalition to coordinate pricing...

In this work, we study n-agent Bayesian games with m-dimensional vector types and linear payoffs, also called linear multidimensional Bayesian games. This class of games is equivalent with n-agent, m-game uniform multigames. We distinguish between games that have a discrete type space and those...

This paper reports results from a laboratory experiment on a continuous Japanese-English auction in a common-value "wallet game". The main objective is to test whether bidders follow the equilibrium bidding strategy predicted by theory. We find systematic deviations from equilibrium behaviour:...

This paper studies a large class of multi-agent contracting models with the property that agents' payoffs constitute a weighted potential game. Multiple equilibria arise due to agents' strategic interactions. I fully characterize a contracting scheme that is optimal for the principal for all...

I study the efficient design of a queue to dynamically allocate a scarce resource to long‐lived agents. Agents can be served multiple times, and their valuations fluctuate over time with some persistence. Each agent privately learns whether his prevailing valuation is high or low only when...

Human cooperation is ubiquitous and instinctive. We are among the most cooperative species on Earth. Still, research mostly focuses on why we cooperate, instead of understanding why some of us do not do so. The public goods game can be used to map human cooperation as well as to study free...

We study optimal auctions in a symmetric private values setting, where bidders have signaling concerns: they care about winning the object and a receivers inference about their type. Signaling concerns arise in various economic situations such as takeover bidding, charity auctions, procurement...

Interrelated global crises - climate change, pandemics, loss of ecosystem services and biodiversity - pose risks that demand collective solutions. Uncertainty about others' behavior, coupled with the dependence on some to take collective efforts to mitigate risks for all (e.g. conservation of...

Dynamic policy games feature a wide range of equilibria. This paper provides a methodology for obtaining robust predictions. We focus on a model of sovereign debt, although our methodology applies to other settings, such as models of monetary policy or capital taxation. Our main result is a...

In this paper, we experimentally investigate how sending a signal of following social norms impacts people's cooperative behavior in a repeated public goods game, where we disentangle the effect of strategy and internalization of social norms on cooperation. We find that under the signaling...

Indirect reciprocity is one of the major mechanisms driving the evolution of cooperation in human societies. There are two types of indirect reciprocity: upstream and downstream reciprocity. Cooperation in downstream reciprocity follows the pattern ‘You helped someone, and I will help you’,...

In this paper, we examine the class of congestion games with player-specific payoff functions introduced by Milchtaich, I. (1996). Focusing on the special case of two resources, we give a short and simple method for identifying all Nash equilibria in pure strategies. We also provide a...

Two groups produce a network good perceived by a third party, such as a police or military institution, as a "public bad", referred to as "crime" for simplicity. These two groups, considered mafias, are assumed to be antagonists, whether they are enemies or competitors in the same market,...

This paper proposes that the ambiguity reflected by a set of priors remains unchanged when the set is translated within the probability simplex, i.e. ambiguity is location invariant. This unifies and generalises numerous influential definitions of ambiguity in the literature. Location invariance...