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Society often allocates valuable resources - such as prestigious positions, salaries, or marriage partners - via tournament-like institutions. In such situations, inequality affects incentives to compete and hence has a direct effect on equilibrium choices and hence material outcomes. We...
Persistent link: https://www.econbiz.de/10005086771
quite different assumptions about the processing of information and optimisation. This paper compares their properties and …
Persistent link: https://www.econbiz.de/10005750724
of the standard model which do not respond to changes in supply or demand. Despite incomplete information, equilibrium …
Persistent link: https://www.econbiz.de/10005750729
We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The “TASP …
Persistent link: https://www.econbiz.de/10005750758
Persistent link: https://www.econbiz.de/10002201189
Persistent link: https://www.econbiz.de/10001625855