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Investment and quality decisions in common-pool networks are typically governed by rules set by a centralized agency (either a monopoly or a regulator). In network systems where competition has flourished, decentralized solutions work better than centralized ones. Rent seeking and politicization...
Persistent link: https://www.econbiz.de/10005412463
The objectives of this paper are to assess the progress made towards a single European wholesale electricity market by the end of 2001, and identify remaining sources of economic inefficiency. Statistical analysis of day-ahead prices, in fifteen European locations, show Nord Pool (Scandinavia),...
Persistent link: https://www.econbiz.de/10005118898
standpoint of knowledge asymmetry the question of a central government in a federation becomes primarily a story of coordination …
Persistent link: https://www.econbiz.de/10005125888
Correlated equilibria are sometimes more efficient than the Nash equilibria of a game without signals. We investigate whether the availability of quantum signals in the context of a classical strategic game may allow the players to achieve even better efficiency than in any correlated...
Persistent link: https://www.econbiz.de/10005062351
Reinforcement learning has proved quite successful in predicting subjects' adjustment behaviour in repeatedly played simple games. However, reinforcement learning does not predict convergence to the efficient cell in the minimal information game of mutual fate control, while earlier...
Persistent link: https://www.econbiz.de/10005407543
information. This way we are able to investigate (i) the coordination abilities of the subjects depending on the underlying game …
Persistent link: https://www.econbiz.de/10005407575
-of-the-sexes. In repeated interaction, asymmetric coordination is possible possible via symmetric repeated game strategies. This … asymmetric continuation paths. The multiplicity of possible conventions gives rise to a coordination problem at a higher level if … the game is one of pure coordination. However, if there is a slight conflict of interest between players, a unique optimal …
Persistent link: https://www.econbiz.de/10005407601
cooperation and coordination within teams. Using artificial agents, different social contests are created, as training …
Persistent link: https://www.econbiz.de/10005407620
The present paper shows why information asymmetry and bivariate stochastic demand and spot price induce different behaviours and economic inefficiency in a carrier – shipper relationship. An example is offered of a single period, single echelon, shipper-carrier transport model where demand...
Persistent link: https://www.econbiz.de/10005407959
We study experimentally a class of pure coordination games as a special case of the Consumer Choice of Prizes game … developed by Rapoport et al. (2000). We find a high level of group coordination coupled with considerable switching in the …
Persistent link: https://www.econbiz.de/10005408213