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Efficient Coordination in Weakest-Link Games

Riedl, Arno; Rohde, Ingrid M. T.; Strobel, Martin - CESifo - 2011

Existing experimental research on behavior in weakest-link games shows overwhelmingly the inability of people to coordinate on the efficient equilibrium, especially in larger groups. We hypothesize that people will be able to coordinate on efficient outcomes, provided they have sufficient...

Persistent link: https://www.econbiz.de/10009395307

Risk-Sharing and Contagion in Networks

Cabrales, Antonio; Gottardi, Piero; Vega-Redondo, Fernando - CESifo - 2014

We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs resulting from an increased risk exposure. We find that when the shock distribution displays “fat” tails, extreme segmentation into small components is optimal, while minimal...

Persistent link: https://www.econbiz.de/10010754654

Core-stable Rings in Auctions with Independent Private Values

Biran, Omer; Forges, Francoise - CESifo - 2010

We propose a semi-cooperative game theoretic approach to check whether a given coalition is stable in a Bayesian game with independent private values. The ex ante expected utilities of coalitions, at an incentive compatible (noncooperative) coalitional equilibrium, describe a (cooperative)...

Persistent link: https://www.econbiz.de/10008583724

Bayesian Repeated Games and Reputations

Forges, Francoise; Salomon, Antoine - CESifo - 2014

Under appropriate assumptions (private values and uniform punishments), the Nash equilibria of a Bayesian repeated game without discounting are payoff-equivalent to tractable, completely revealing, equilibria and can be achieved as interim cooperative solutions of the initial Bayesian game. This...

Persistent link: https://www.econbiz.de/10010752435

Two-Sided Markets and Electronic Intermediaries

Jullien, Bruno - CESifo - 2004

The object of this paper is to discuss on-line intermediation from the perspective of two-sided markets. It builds a simple model of the intermediation activity when trading partners are involved in a commercial relationship and uses it to illustrate some of the results that emerge in the...

Persistent link: https://www.econbiz.de/10005181364

The Old-Boy Network and the Quality of Entrepreneurs

Bac, Mehmet; Inci, Eren - CESifo - 2010

We study a model of network formation and start-up financing with endogenous entrepreneurial type distribution. A hub … firm admits members to its network based on signals about entrepreneurs’ types. Network membership is observable, which … allows lenders to offer different interest rates to network and stand-alone entrepreneurs. We show that a network outcome can …

Persistent link: https://www.econbiz.de/10008583661

A Strategic R&D Investment with Flexible Development Time in Real Option Game Analysis

Villani, Giovanni - CESifo - 2009

The real option theory provides a useful tool to evaluate an R&D investment under uncertainty because, unlike the NPV (Net Present Value), it considers the managerial flexibility that may be expand the investment opportunity value. However, most R&D investment projects are open to competing...

Persistent link: https://www.econbiz.de/10005013067

International Environmental Agreements with Uncertainty, Learning and Risk Aversion

Finus, Michael; Pintassilgo, Pedro; Ulph, Alistair - CESifo - 2014

This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success of IEA formation when countries are risk neutral and...

Persistent link: https://www.econbiz.de/10010736746

The Benefits of Being Economics Professor A (and not Z)

Praag, Mirjam van; Praag, Bernard M.S. van - CESifo - 2007

Alphabetic name ordering on multi-authored academic papers, which is the convention in the economics discipline and various other disciplines, is to the advantage of people whose last name initials are placed early in the alphabet. As it turns out, Professor A, who has been a first author more...

Persistent link: https://www.econbiz.de/10005766276

Evaluation of Researchers: A Life Cycle Analysis of German Academic Economists

Rauber, Michael; Ursprung, Heinrich - CESifo - 2006

In this paper we ague that any meaningful bibliometric evaluation of researchers needs to take into account that research productivity follows distinct life cycles. Using an encompassing data set portraying the research behavior of German academic economists, we first show that research...

Persistent link: https://www.econbiz.de/10005094159