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We analyze the problem of coordinating upon asymmetric equilibria in a symmetric game, such as the battle-of-the-sexes. In repeated interaction, asymmetric coordination is possible possible via symmetric repeated game strategies. This requires that players randomize initially and adopt a...
Persistent link: https://www.econbiz.de/10005407601
Using insights from the theory of projective geometry one can prove convergence of continuous fictitious play in a certain class of games. As a corollary, we obtain a kind of equilibrium selection result, whereby continuous fictitious play converges to a particular equilibrium contained in a...
Persistent link: https://www.econbiz.de/10005062342
We develop a general model of best response adaptation in large populations for symmetric and asymmetric conflicts with role-switching. For special cases including the classical best response dynamics and the symmetrized best response dynamics we show that the set of Nash equilibria is...
Persistent link: https://www.econbiz.de/10005062353
possible in some cases. However, once consumer learning is introduced, the monopoly outcome first found by Diamond (1971) is …
Persistent link: https://www.econbiz.de/10005118556
with experience. We then reject increasing confidence in private information or learning about the structure of the … data. The motivation for signalling is consistent with wanting to control inflation expectations, but not career concerns …
Persistent link: https://www.econbiz.de/10010547194
We study experimentally a class of pure coordination games as a special case of the Consumer Choice of Prizes game developed by Rapoport et al. (2000). We find a high level of group coordination coupled with considerable switching in the choice of locations. Two models are proposed and tested to...
Persistent link: https://www.econbiz.de/10005408213
iteration of the same game along the lines suggested by anticipatory learning models. …
Persistent link: https://www.econbiz.de/10005556674
The "Weakest Link" is a game show full of paradox. To increase the probability of winning, contestants should eliminate the strongest players. Yet, if it is anticipated that the best player is to be eliminated, participants do not answer questions correctly and nothing is gained. We solve a game...
Persistent link: https://www.econbiz.de/10005556682
examine the sensitivity of this result to the ability of people to observe others' choices. Our experiments are set in a …
Persistent link: https://www.econbiz.de/10010547425
We study how the heterogeneity of agents affects the extent to which changes in financial incentives can pull a group out of a situation of coordination failure. We focus on the connections between cost asymmetries and leadership. Experimental subjects interact in groups of four in a series of...
Persistent link: https://www.econbiz.de/10010547446