Showing 1 - 10 of 235
play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10005407609
Our study concerns bargaining behavior in situations where one party is in a stronger position than the other. We investigate both the tradeoff the favored party makes between pursuing his strategic advantage and giving weight to other players' concern for fairness, and the tradeoff the...
Persistent link: https://www.econbiz.de/10005556668
We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous … experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to … the generalized imitation model predicts the differences between treatments well. The data also provide support for …
Persistent link: https://www.econbiz.de/10005125578
In a recent paper Bagwell (1995) pointed out that only the Cournot outcome, but not the Stackelberg outcome, can be supported by a pure Nash equilibrium when actions of the Stackelberg leader are observed with the slightest error. The Stackelberg outcome, however, remains close to the outcome of...
Persistent link: https://www.econbiz.de/10005550927
In this paper we consider an overlapping generations model with endogenous fertility and two-sided altruism and show the limitations of applying commonly used open loop Nash equilibrium in characterizing equilibrium transfers from parents to children in the form of bequest, and transfers from...
Persistent link: https://www.econbiz.de/10005076531
This paper considers bidding automata programmed by experienced subjects in sequential first price sealed bid auction experiments. These automata play against each other in computer tournaments. The risk neutral subgame perfect Nash equilibrium strategy of the independent private value model...
Persistent link: https://www.econbiz.de/10005124959
This paper reports experimental evidence on behaviour in an Ultimatum Game where responders have low structural information and feedback so that they have to learn the nature of the game during repeated play. The results lend support to the view that certain learning conditions are less...
Persistent link: https://www.econbiz.de/10005125583
The recent literature suggests that people have social preferences with a self-serving bias. Our data analysis reveals that the stylized fact of declining cooperation in repeated public goods experiments results from this bias and adaptation.
Persistent link: https://www.econbiz.de/10005125603
This paper investigates the impact of information about rivals' actions on the competitiveness of experimental oligopoly markets. We compare two treatments: in one, firms are informed about their rivals' actions and profits. In the other, firms are only given some aggregate information about...
Persistent link: https://www.econbiz.de/10005134518
This paper presents a model of individual behavior in minimum effort coordination games, focusing primarily on the effects of the number of players and the introduction of inter-group competition. It is shown that independent of the number of players and the number of competing groups, the most...
Persistent link: https://www.econbiz.de/10005062347