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Huck, Steffen; Oechssler, Joerg; Normann, Hans-Theo - 1999

In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of...

Persistent link: https://www.econbiz.de/10009580461

Experimental "beauty contests" with homogeneous and heterogeneous players and with interior and boundary equilibria

Güth, Werner; Kocher, Martin; Sutter, Matthias - 2001

We study behavior in experimental beauty contests with, first, boundary and interior equilibria, and, second, homogeneous and heterogenous types of players. We find quicker and better convergence to the game-theoretic equilibrium with interior equilibria and homogeneous players. -- beauty...

Persistent link: https://www.econbiz.de/10009614296

Structural vector autoregressive models and monetary policy analysis

Holtemöller, Oliver - 2002

possibility is to adopt restrictions from economic theory. The purpose of this paper is to investigate the implications of the …

Persistent link: https://www.econbiz.de/10009620773

Privately contributing to public goods over time : an experimental study

Güth, Werner; Levati, Maria Vittoria; Stiehler, Andreas - 2002

Similar to Levati and Neugebauer (2001), a clock is used by which participants can vary their individual contributions for voluntarily providing a public good. As time goes by, participants either in(de)crease their contribution gradually or keep it constant. Groups of two poorly and two richly...

Persistent link: https://www.econbiz.de/10009620765

Absent–minded drivers in the lab : testing Gilboa’s model

Huck, Steffen; Müller, Wieland - 2000

This note contributes to the discussion of decision problems with imperfect recall from an empirical point of view. We argue that, using standard methods of experimental economics, it is impossible to induce (or control for) absent-mindedness of subjects. Nevertheless, it is possible to test...

Persistent link: https://www.econbiz.de/10009583877

Hotelling games with three, four, and more players

Brenner, Steffen - 2001

In this paper the standard Hotelling model with quadratic transport costs is extended to the multi-firm case. The sequential game consists of a location choice stage and a price setting stage. Considering locational equilibria it is shown that neither holds the Principle of Maximum...

Persistent link: https://www.econbiz.de/10009613612

Auctions and corruption

Lengwiler, Yvan; Wolfstetter, Elmar - 2000

In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we … propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects … that may prevent corruption, and compare them to the fee schedules employed by major auction houses. -- auctions …

Persistent link: https://www.econbiz.de/10009583882

Quantile hedging

Föllmer, Hans; Leukert, Peter - 1998

In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...

Persistent link: https://www.econbiz.de/10009574876

On model based seasonal adjustment procedures

Breitung, Jörg - 1998

In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...

Persistent link: https://www.econbiz.de/10009574877

The monetary model of the exchange rate : a structural interpretation

Moersch, Mathias; Nautz, Dieter - 1998

We emphasize the importance of properly identifying the long-run relations underlying the monetary model of the exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows an interpretation of the various channels affecting the...

Persistent link: https://www.econbiz.de/10009574885

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