Narrow search
Showing 1 - 10 of 87
Cover Image
The Origin of Prospect Theory, or Testing the Intuitive Statistician
Heukelom, Floris - Tinbergen Instituut - 2005
The origin of prospect theory is the desire to test the intuitive statistician in the real world. The development of … this theory by the cognitive psychologists Kahneman and Tversky can be traced to the formers work in cognitive … psychophysics, in which deviations from average behavior are termed (statistical) errors; and the latters work on decision theory …
Persistent link: https://www.econbiz.de/10011256975
Cover Image
In and out of Equilibrium II: Evolution in Repeated Games with Discounting and Complexity Costs
Veelen, Matthijs van; Garcia, Julian - Tinbergen Instituut - 2012
We explore evolutionary dynamics for repeated games with small, but positive complexity costs. To understand the dynamics, we extend a folk theorem result by Cooper (1996) to continuation probabilities, or discount rates, smaller than 1. While this result delineates which payoffs can be...
Persistent link: https://www.econbiz.de/10011256705
Cover Image
A Behavioral Model for Participation Games with Negative Feedback
Dindo, Pietro; Tuinstra, Jan - Tinbergen Instituut - 2006
We study participation games with negative feedback, i.e. games where players choose either to participate in a certain project or not and where the payoff for participating decreases in the number of participating players. We use the replicator dynamics to model the competition between...
Persistent link: https://www.econbiz.de/10011257028
Cover Image
Reconciling Consumption Inequality with Income Inequality
Lepetyuk, Vadym; Stoltenberg, Christian A. - Tinbergen Instituut - 2013
theory, can explain the relationship and can avoid the systematic bias of the expected utility models. The chance attitudes …
Persistent link: https://www.econbiz.de/10011257548
Cover Image
The Impact of Naïve Advice and Observational Learning in Beauty-contest Games
Kocher, Martin G.; Sutter, Matthias; Wakolbinger, Florian - Tinbergen Instituut - 2007
We study the impact of advice or observation on the depth of reasoning in an experimental beauty-contest game. Both sources of information trigger faster convergence to the equilibrium. Yet, we find that subjects who receive naïve advice outperform uninformed subjects permanently, whereas...
Persistent link: https://www.econbiz.de/10011255507
Cover Image
Demand Adjustment in Coalitional Games
Laan, Gerard van der; Pruzhansky, Vitaly - Tinbergen Instituut - 2004
This paper associates a strategic n-person game with a given transferable utility game and studies its Nash equilibria. Strict equilibria in this model characterize those divisions of social surplus that can become conventions in the sense of Young (1993). It is shown that even in relatively...
Persistent link: https://www.econbiz.de/10011255790
Cover Image
Evolution in Games with a Continuous Action Space
Veelen, Matthijs van - Tinbergen Instituut - 2001
-008-0338-8">'Economic Theory'</A>, 2009, 39(3), 355-376. Allowing for games with a continuous action space, we deal with the question …
Persistent link: https://www.econbiz.de/10011256428
Cover Image
Measuring the Power of Nodes in Digraphs
Herings, P. Jean-Jacques; Laan, Gerard van der; Talman, Dolf - Tinbergen Instituut - 2001
This discussion paper led to a publication in 'Social Choice and Welfare', 2005, 24, 439-454.<P> Many economic and social situations can be represented by a digraph. Both axiomatic and iterativemethods to determine the strength or power of all the nodes in a digraph have been proposed inthe...</p>
Persistent link: https://www.econbiz.de/10011256523
Cover Image
Altruism, Fairness and Evolution: the Case for Repeated Stochastic Games
Veelen, Matthijs van - Tinbergen Instituut - 2002
This paper is an effort to convince the reader that using a stochastic stage game in a repeated setting - rather than a deterministic one - comes with many advantages. The first is that as a game it is more realistic to assume that payoffs in future games are uncertain. The second is that it...
Persistent link: https://www.econbiz.de/10011256557
Cover Image
Intention-Based Reciprocity and the Hidden Costs of Control
Siemens, Ferdinand von - Tinbergen Instituut - 2011
Empirical research suggests that - rather than improving incentives - exerting controlcan reduce workers' performance by eroding motivation. The present paper shows thatintention-based reciprocity can cause such motivational crowding-out if individuals differin their propensity for reciprocity...
Persistent link: https://www.econbiz.de/10011256604