This paper investigates simultaneous learning about both nature and others' actions in repeated games, and identifies a …

This paper extends the convergence result on Bayesian learning in Kalai and Lehrer (1993a, 1993b) to a class of games …

show that the success in learning the opponent’s type depends on the characteristics of the true game. The learning success … equilibrium and we observe no correlation between equilibrium play and learning about the game. …

Concerns for relative performance are integrated into a model of contractual renegotiation in bilateral trade. It is … shown that concerns for relative performance do never impede efficient trade. Moreover, conditional on renegotiation to … performance make the occurrence of renegotiation more likely, and may thereby lead to underinvestment even in very optimistic …

such as informal agreements and ex post renegotiation. We investigate the relevance of these features experimentally. Our … the presence of informal agreements and ex post renegotiation. However, our data also reveal new behavioral features that … renegotiation changes how trading parties evaluate ex post outcomes. Interestingly, the availability of these additional options …

hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an … initial contract has a highly significant and economically important impact on renegotiation behavior that goes beyond the …