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Conflict, Evolution, Hegemony, and the Power of the State
Levine, David; Modica, Salvatore - National Bureau of Economic Research (NBER) - 2013
In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...
Persistent link: https://www.econbiz.de/10010950707
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Chapter 2. Rationality and Dynamic Consistency Under Risk and Uncertainty
Hammond, Peter J.; Zank, Horst - In: Handbook of the economics of risk and uncertainty : volume 1, (pp. 41-97). 2014
For choice with deterministic consequences, the standard rationality hypothesis is ordinality, i.e., maximization of a … weak preference ordering. For choice under risk (resp. uncertainty), preferences are assumed to be represented by the … objectively (resp. subjectively) expected value of a von Neumann-Morgenstern utility function. For choice under risk, this implies …
Persistent link: https://www.econbiz.de/10014025530
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Evolution of theories of mind
Mohlin, Erik - In: Games and Economic Behavior 75 (2012) 1, pp. 299-318
This paper studies the evolution of peoplesʼ models of how other people think – their theories of mind. This is formalized within the level-k model, which postulates a hierarchy of types, such that type k plays a k times iterated best response to the uniform distribution. It is found that,...
Persistent link: https://www.econbiz.de/10011049877
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Boundedly Rational versus Optimization-Based Models of Strategic Thinking and Learning in Games
Crawford, Vincent P. - In: Journal of Economic Literature 51 (2013) 2, pp. 512-27
Harstad and Selten’s article in this forum performs a valuable service by highlighting the dominance of optimization-based models over boundedly rational models in modern microeconomics, and questioning whether optimization-based models are a better way forward than boundedly rational...
Persistent link: https://www.econbiz.de/10011129964
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Parallel inverse aggregate demand curves in discrete choice models
Kroft, Kory; Leal-Vizcaíno, René; Notowidigdo, Matthew J. - In: Economic theory 74 (2022) 3, pp. 923-946
This paper highlights a previously unnoticed property of commonly-used discrete choice models, which is that they …
Persistent link: https://www.econbiz.de/10013442105
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Under-Savers Anonymous: Evidence on Self-Help Groups and Peer Pressure as a Savings Commitment Device
Meier, Stephan; Kast, Felipe; Pomeranz, Dina - National Bureau of Economic Research (NBER) - 2012
We test the effectiveness of self-help peer groups as a commitment device for precautionary savings, through two randomized field experiments among 2,687 microentrepreneurs in Chile. The first experiment finds that self-help peer groups are a powerful tool to increase savings (the number of...
Persistent link: https://www.econbiz.de/10010821682
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Costly switching from a status quo
Guney, Begum; Richter, Michael - In: Journal of economic behavior & organization : JEBO 156 (2018), pp. 55-70
Persistent link: https://www.econbiz.de/10012102359
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Network Structure and Strategic Investments: An Experimental Analysis
Rosenkranz, Stephanie; Weitzel, Utz - C.E.P.R. Discussion Papers - 2008
This paper analyzes the effects of network positions and individual risk attitudes on individuals' strategic decisions in an experiment where actions are strategic substitutes. The game theoretic basis for our experiment is the model of Bramoullé and Kranton (2007). In particular, we are...
Persistent link: https://www.econbiz.de/10005136539
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Network structure and strategic investments: An experimental analysis
Rosenkranz, Stephanie; Weitzel, Utz - In: Games and Economic Behavior 75 (2012) 2, pp. 898-920
This paper experimentally analyzes the effect of network structures on individualsʼ decisions in a game of strategic substitutes. The theoretical basis for our experiment is the model of Bramoullé and Kranton (2007). As predicted, we find that individuals are able to coordinate on equilibria,...
Persistent link: https://www.econbiz.de/10011049842
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Enjoyment takes time : some implications for choice theory
Nisticò, Sergio - 2015
The paper suggests that casting the choice problem in terms of alternative time-consuming activities can foster the …. The first part emphasizes how mainstream, utility-based choice theory has eradicated "time" from the analysis, in contrast …
Persistent link: https://www.econbiz.de/10010485641