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Baye, Michael R.; Kovenock, Dan; Vries, Casper G. de - Tinbergen Institute - 2009

, tournaments, R&D races, models of ligitation, and a host of other contests. …-order contests with complete information, in which each player's strategy generates direct or indirect affine "spillover" effects … important economic environments, as well as in classic contests adapted to recent experimental and behavioral models where …

Persistent link: https://www.econbiz.de/10004964456

The Breakdown of Morale

Vikander, Nick - Tinbergen Institute - 2009

This paper studies how morale in teams can break down. It interprets high morale as team members working together productively, either because of a sense of fairness or because of implicit incentives from repeated interactions. Team members learn that lay-offs will occur at a fixed future date,...

Persistent link: https://www.econbiz.de/10005209501

The Unique-lowest Sealed-bid Auction

Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - Tinbergen Institute - 2008

Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two-bidders' auction is similar to the Hawk-Dove game, which...

Persistent link: https://www.econbiz.de/10005136936

Cooperation in an Overlapping Generations Experiment

Offerman, Theo; Potters, Jan; Verbon, Harry A.A. - Tinbergen Institute - 1999

Recent theoretical work shows that folk theorems can be developed for infinite overlapping generations games. Cooperation in such games can be sustained as a Nash equilibrium. Besides the efficient cooperative equilibrium there is also the inefficient non-cooperative equilibrium. This paper...

Persistent link: https://www.econbiz.de/10005144485

Competitive Bidding in Auctions with Private and Common Values

Goeree, Jacob K.; Offerman, Theo - Tinbergen Institute - 2000

The objects for sale in most auctions possess both private and common value elements. This salient feature has not yet been incorporated into a strategic analysis of equilibrium bidding behaviour. This paper reports such an analysis for a stylised model in which bidders receive a private value...

Persistent link: https://www.econbiz.de/10005450754

On Borel Probability Measures and Noncooperative Game Theory

Frenk, J.B.G.; Kassay, G.; Protassov, V. - Tinbergen Institute - 2002

In this paper the well-known minimax theorems of Wald, Ville and Von Neumann are generalized under weaker topological conditions on the payoff function <i>f</i> and/or extended to the larger set of the Borel probability measures instead of the set of mixed strategies.

Persistent link: https://www.econbiz.de/10005450809