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Considering a pure coordination game with a large number of equivalent equilibria, we argue, first, that a focal point that is itself not a Nash equilibrium and is Pareto dominated by all Nash equilibria, may attract the players' choices. Second, we argue that such a non-equilibrium focal point...
Persistent link: https://www.econbiz.de/10005708012
Cofoundresses of the desert fungus garden ant Acromyrmex versicolor exhibit a forager specialist who subsumes all foraging risk prior to first worker eclosion (Rissing et al. 1989). In an experiment designed to mimic a "cheater" who refuses foraging assignment when her lot, cofoundresses...
Persistent link: https://www.econbiz.de/10005772044
We formulate an evolutionary learning process in the spirit of Young (1993a) for games of incomplete information. The process involves trembles. For many games, if the amount of trembling is small, play will be in accordance with the games' (semi- strict) Bayesian equilibria most of the time....
Persistent link: https://www.econbiz.de/10005772120
This essay reviews some findings in cognition sciences and examines their consequences for the analysis of institutions. It starts by exploring how humans’ specialization in producing knowledge ensures our success in dominating the environment but also changes fast our environment. So fast...
Persistent link: https://www.econbiz.de/10005772172
That individuals contribute in social dilemma interactions even when contributing is costly is a well-established observation in the experimental literature. Since a contributor is always strictly worse off than a non-contributor the question is raised if an intrinsic motivation to contribute...
Persistent link: https://www.econbiz.de/10005015539