It is shown that the n-player lottery contest admits a best-response potential (Voorneveld, 2000, Economics Letters). This is true also when the contest technology reflects the possibility of a draw. The result implies, in particular, the existence of a non-trivial two-player zero-sum game that...

Assuming constant marginal cost, it is shown that a switch from specific to ad valorem taxation has no effect on the critical discount factor required to sustain collusion. This result is shown to hold for Cournot oligopoly as well as for Bertrand oligopoly when collusion is sustained with...

A competition authority has an objective, which specifies what output profile firms need to produce as a function of production costs. These costs change over time and are only known by the firms. The objective is implementable if inequilibrium, the firms cannot collude on their reports to the...

This paper studies the dynamic construction of a blockchain by competitive miners. In contrast to the literature, we assume a finite time horizon. Moreover, miners are rewarded for blocks that eventually become part of the longest chain. It is shown that popular mining strategies such as...

We study repeated implementation in a model with overlapping generations of agents.It is assumed that the preferences of agents do not change during their lifetime.A social choice function selects an alternative in each period as a function of the preferences of agents who are alive in that...

Throughout history, victory in conflict has created fearsome reputations. With it, the victor ensures greater allegiance of the wider population, increasing their rents at the expense of their enemy. Such reputational concerns generate two motives for conflict. When only victory or defeat is...

The paper studies a dynamic communication game in the presence of adverse selection and career concerns. A forecaster of privately known competence, who cares about his reputation, chooses the timing of the forecast regarding the outcome of some future event. We find that in all equilibria in a...

This paper studies fictitious play in networks of noncooperative two-person games. We show that continuous-time fictitious play converges to the set of Nash equilibria if the overall n-person game is zero-sum. Moreover, the rate of convergence is 1/T, regardless of the size of the network. In...

We experimentally study settings where an individual may have an incentive to adopt negative beliefs about another's intentions in order to justify egoistic behavior. Our first study uses a game in which a player can take money from an opponent in order to prevent the opponent from subsequently...

We run a laboratory experiment with a two-person game with unique pure Nash equilibrium which is also the solution of the iterative elimination of strictly dominated strategies. The subjects are asked to commit to a device that randomly picks one of three symmetric outcomes in this game...