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Equilibrium Play and Best Response to (Stated) Beliefs in Constant Sum Games
Rey-Biel, Pedro - Departament d'Economia i Història Econòmica, … - 2007
We report experimental results on one-shot two person 3x3 constant sum games played by non-economists without previous experience in the laboratory. Although strategically our games are very similar to previous experiments in which game theory predictions fail dramatically, 80% of actions taken...
Persistent link: https://www.econbiz.de/10005247854
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Can genetic algorithms explain experimental anomalies? An application to common property resources
Casari, Marco - Departament d'Economia i Història Econòmica, … - 2002
predictions. In this paper, we employ an evolutionary model with boundedly rational agents to explain these findings. We use data … functions, we model decision makers as selfish and identical. Agent interaction is simulated using an individual learning … genetic algorithm, where agents have constraints in their working memory, a limited ability to maximize, and experiment with …
Persistent link: https://www.econbiz.de/10005823886
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Experimental Evidence on the Multibidding Mechanism
Perez-Castrillo, David; Veszteg, Robert F. - Departament d'Economia i Història Econòmica, … - 2005
Pérez-Castrillo and Wettstein (2002) and Veszteg (2004) propose the use of a multibidding mechanism for situations where agents have to choose a common project. Examples are decisions involving public goods (or public "bads"). We report experimental results to test the practical tractability...
Persistent link: https://www.econbiz.de/10005823918
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Reference Points and Negative Reciprocity in Simple Sequential Games.
Brandts, J.; Sola, C. - Departament d'Economia i Història Econòmica, … - 1998
We investigate experimentally whether preferences over an outcome depend on what other possible outcomes of the situation under consideration are, i.e. whether choices are "menu dependent". In simple sequential games we analyze whether reactions to a certain benchmark oucome are influenced by...
Persistent link: https://www.econbiz.de/10005168500
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Improving the Effort Concept: A Revision of the Traditional Approach in the Context of Controlled Dynamic Stochastic Environments
DAN, PROTOPOPESCU - Departament d'Economia i Història Econòmica, … - 2008
The objective of this paper is to re-evaluate the attitude to effort of a risk-averse decision- maker in an evolving environment. In the classical analysis, the space of efforts is generally discretized. More realistic, this new approach employes a continuum of effort levels. The pres- ence of...
Persistent link: https://www.econbiz.de/10005582644
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Bayesian Nash Equilibrium in ''Linear'' Cournot Models with Private Information About Cost
Hurkens, Sjaak - Departament d'Economia i Història Econòmica, … - 2012
Calculating explicit closed form solutions of Cournot models where firms have private information about their costs is, in general, very cumbersome. Most authors consider therefore linear demands and constant marginal costs. However, within this framework, the nonnegativity constraint on prices...
Persistent link: https://www.econbiz.de/10010906112
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A Note on Agent Based Imperfect Competition.
Rocher, F.; Vila, X. - Departament d'Economia i Història Econòmica, … - 1997
The model we discuss in this note is a re-examination of the classical Bertrand model of imperfect competition. the …
Persistent link: https://www.econbiz.de/10005823960
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A Model-to-Model Analysis of The Repeated Prisoners' Dilemma: Genetic Algorithms vs. Evolutionary Dynamics
Vilà, Xavier - Departament d'Economia i Història Econòmica, … - 2008
same model by means of simulations based on genetic algorithms. The resulting simulations describe a behavior of the system … very close to the one predicted by the replicator dynamics without imposing any of the assumptions of the analytical model …
Persistent link: https://www.econbiz.de/10005824003
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Constrained School Choice: An Experimental Study
Calsamiglia, Caterina; Haeringer, Guillaume; Klijn, Flip - Departament d'Economia i Història Econòmica, … - 2008
The literature on school choice assumes that families can submit a preference list over all the schools they want to be assigned to. However, in many real-life instances families are only allowed to submit a list containing a limited number of schools. Subjects' incentives are drastically...
Persistent link: https://www.econbiz.de/10005823951
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Let's talk: How communication affects contract design
Brandts, Jordi; Charness, Gary; Ellman, Matthew - Departament d'Economia i Història Econòmica, … - 2012
We study experimentally how the ability to communicate affects the frequency and effectiveness of flexible and inflexible contracts in a bilateral trade context where sellers can adjust trade quality after observing a post-contractual cost shock and a discretionary buyer transfer. In the absence...
Persistent link: https://www.econbiz.de/10010554806