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In experiments with two-person sequential games we analyze whether responses to favorable and unfavorable actions depend on the elicitation procedure. In our “hot” treatment the second player responds to the first player’s observed action while in our “cold” treatment we follow the...
Persistent link: https://www.econbiz.de/10005572605
Equivalence classes of normal form games are defined using the geometry of correspondences of standard equilibiurm concepts like correlated, Nash, and robust equilibrium or risk dominance and rationalizability. Resulting equivalence classes are fully characterized and compared across different...
Persistent link: https://www.econbiz.de/10005572643
Previous works on asymmetric information in asset markets tend to focus on the potential gains in the asset market itself. We focus on the market for information and conduct an experimental study to explore, in a game of finite but uncertain duration, whether reputation can be an effective...
Persistent link: https://www.econbiz.de/10005772009
We perform an experiment on a pure coordination game with uncertainty about the payoffs. Our game is closely related to …. In our experiment each subject receives a noisy signal about the true payoffs. This game has a unique strategy profile …
Persistent link: https://www.econbiz.de/10005772141
bargaining efficiency. An experiment was conducted in which subjects were first screened using a dictator game, with the …
Persistent link: https://www.econbiz.de/10005572583
people. We conduct an alternating-offer bargaining experiment using separate simple networks, which are then joined during …
Persistent link: https://www.econbiz.de/10005771991
experiment to explore optimal contracts in an adverse-selection context. A principal proposes one of three contract menus, each …
Persistent link: https://www.econbiz.de/10005772130
The effectiveness of pre-play communication in achieving efficient outcomes has long been a subject of controversy. In some environments, cheap talk may help to achieve coordination. However, Aumann conjectures that, in a variant of the Stag Hunt game, a signal for efficient play is not...
Persistent link: https://www.econbiz.de/10005772240
We study whether people's preferences in an unbalanced market are affected by whether they are on the excess supply side or the excess demand side of the market. Our analysis is based on the comparison of behavior between two types of experimental gift exchange markets, which vary only with...
Persistent link: https://www.econbiz.de/10005772248
authority dampens internal impulses toward honesty, loyalty, or generosity. In a gift-exchange experiment, we find that subjects …
Persistent link: https://www.econbiz.de/10005772491