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On the profitability of collusion in location games
Huck, Steffen; Knoblauch, Vicky; Müller, Wieland - 2000
On the basis of a real high stakes insurance experiment with small probabilities of losses, we demonstrate that concern is a more important driver of WTP for insurance than subjective probability estimates when there is ambiguity surrounding the estimate. Concern is still important when...
Persistent link: https://www.econbiz.de/10009583427
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On the evolution of power indices in collective bargaining
Berninghaus, Siegfried; Güth, Werner - 2000
distinguishes between trade union's power in initial wage and in later employment negotiations. By linking two such collective … bargaining situations we can say which of the two (two-dimensional) power constellations is better and thereby derive the power … shaping the relative power indices of trade unions. …
Persistent link: https://www.econbiz.de/10009612014
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Why the rich are nastier than the poor : a note on optimal punishment
Huck, Steffen; Müller, Wieland - 1998
Studying evolutionarily successful behavior we show in a general framework that when individuals maximizing payoff differentials invest resources in punishing others. Interestingly, these investments are increasing in individuals, own wealth and decreasing in the wealth of others.
Persistent link: https://www.econbiz.de/10009574881
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The relevance of equal splits : on a behavioral discontinuity in ultimatum games
Güth, Werner; Huck, Steffen; Müller, Wieland - 1998
The findings on the ultimatum game are considered as belonging to the most robust experimental results. In this paper we present a slightly altered version of the mini ultimatum game of Bolton and Zwick (1995). Whereas in the latter exactly equal splits were feasible in our games these were...
Persistent link: https://www.econbiz.de/10009574884
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Evolutionary dynamics on infinite strategy spaces
Oechssler, Joerg; Riedel, Frank - 1998
. Finally, we apply this general theory to a number of applications like the Nash demand game, the War of Attrition, Cournot and …
Persistent link: https://www.econbiz.de/10009578001
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Species survival and evolutionary stability in sustainable habitats : the concept of ecological stability
Aumann, Robert J.; Güth, Werner - 1998 - Rev.
(geno-) types as in evolutionary biology and game theory. Survival in inter- and intraspecies competition together with …
Persistent link: https://www.econbiz.de/10009578002
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Scale economies and the dynamics of recurring auctions
Jeitschko, Thomas D.; Wolfstetter, Elmar - 1998
We analyze the dynamics of a game of sequential bidding in the presence of stochastic scale effects in the form of stochastic economies or diseconomies of scale. We show that economies give rise to declining expected equilibrium prices, whereas the converse is not generally true. Moreover,...
Persistent link: https://www.econbiz.de/10009578006
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Do banks crowd in or out business ethics? : an indirect evolutionary analysis
Güth, Werner - 1998 - Rev.
The evolution of trustworthiness as a major aspect of business ethics depends crucially on whether it can be signaled. If this is impossible, only opportunistic traders will survive. Whereas previous studies have analysed detection agencies (Güth and Kliemt, 1994 and 1998) or have substituted...
Persistent link: https://www.econbiz.de/10009578022
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Will banks promote trade? : equilibrium selection for the trust game with banks
Güth, Werner; Ockenfels, Peter - 1998 - Rev.
according to which banks are not used at all. By applying the theory of equilibrium selection it is analysed which of the two …
Persistent link: https://www.econbiz.de/10009578562
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Preemption in capacity and price determination : a study of endogenous timing of decisions for homogeneous markets
Güth, Sandra; Güth, Werner - 1998 - Rev.
The theory of industrial organization has experienced an impressive boom by using the methods of (non-cooperative) game … theory. The conclusions depend, however. crucially on subtle details of the market decision processes about which there exist …
Persistent link: https://www.econbiz.de/10009578566