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Abbring, Jaap H.; Campbell, Jeffrey R. - Tinbergen Instituut - 2006

This paper extends the static analysis of oligopoly structure into an infinite-horizon setting with sunk costs and demand uncertainty. The observation that exit rates decline with firm age motivates the assumption of last-in first-out dynamics: An entrant expects to produce no longer than any...

Persistent link: https://www.econbiz.de/10011257380

Duopoly Dynamics with a Barrier to Entry

Abbring, Jaap H.; Campbell, Jeffrey R. - Tinbergen Instituut - 2007

This paper considers the effects of raising the cost of entry for a potential competitor on infinite-horizon Markov-perfect duopoly dynamics with ongoing demand uncertainty. All entrants serving the model industry incur sunk costs, and exit avoids future fixed costs. We focus on the unique...

Persistent link: https://www.econbiz.de/10011257641

Who are the Behavioral Economists and what do they say?

Heukelom, Floris - Tinbergen Instituut - 2007

division can be observed within behavioral economics. The first branch considers human decision-making to be a problem of … exogenous uncertainty, which can be analyzed with decision theory. It employs traditional economics as a nor! mative benchmark … and favors a normative-descriptive(-prescriptive) distinction for economics. The second branch considers human decision …

Persistent link: https://www.econbiz.de/10011256865

Heterogeneous Agent Models in Economics and Finance

Hommes, Cars H. - Tinbergen Instituut - 2005

This paper surveys work on dynamic heterogeneous agent models (HAMs) in economics and finance. Emphasis is given to simple models that, at least to some extent, are tractable by analytic methods in combination with computational tools. Most of these models are behavioral models with boundedly...

Persistent link: https://www.econbiz.de/10011255802

Kahneman and Tversky and the Origin of Behavioral Economics

Heukelom, Floris - Tinbergen Instituut - 2007

Kahneman and Tversky and their behavioral economics stand in a long tradition of applying mathematics to human behavior. In the seventeenth century, attempts to describe rational behavior in mathematical terms run into problems with the formulation of the St. Petersburg paradox. Bernoulli’s...

Persistent link: https://www.econbiz.de/10011256192

Risk, Uncertainty and Entrepreneurship: Evidence From a Lab-in-the-Field Experiment

Koudstaal, Martin; Sloof, Randolph; Praag, Mirjam van - Tinbergen Instituut - 2014

perform a large ‘lab-in-the-field’ experiment comparing entrepreneurs to managers – a suitable comparison group – and … employees (n = 2288). The results indicate that entrepreneurs perceive themselves as less risk averse than managers and …

Persistent link: https://www.econbiz.de/10011255528

Discrimination in the Labor Market: The Curse of Competition between Workers

Haan, Thomas de; Offerman, Theo; Sloof, Randolph - Tinbergen Instituut - 2011

beliefs of the employers are self-fulfilling. Theoretically and in an experiment, we investigate under what circumstances …

Persistent link: https://www.econbiz.de/10011256510

Decision and Strategies in a Sequential Search Experiment

Sonnemans, Joep - Tinbergen Instituut - 1998

works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice …

Persistent link: https://www.econbiz.de/10011256616

Equilibrium Selection in Cheap Talk Games: ACDC rocks when Other Criteria remain silent

Ruiz, Adrian de Groot; Offerman, Theo; Onderstal, Sander - Tinbergen Instituut - 2011

the size of credible deviations. In our experiment, we find support for the relevance of credible deviations. In addition …

Persistent link: https://www.econbiz.de/10011256700

Group Polarization in the Team Dictator Game reconsidered

Luhan, Wolfgang J.; Kocher, Martin G.; Sutter, Matthias - Tinbergen Instituut - 2006

While most papers_new on team decision-making find teams to behave more selfish, less trusting and less altruistic than … dictator game. In our experiment teams are more selfish than individuals, and the most selfish team member has the strongest …

Persistent link: https://www.econbiz.de/10011256730