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Evolution of Strategies in Repeated Games with Discounting

Veelen, Matthijs van - Tinbergen Instituut - 2007

In repeated games there is in general a large set of equilibria. We also know that in the repeated prisoners dilemma there is a profusion of neutrally stable strategies, but no strategy that is evolutionarily stable. This paper investigates whether and how neutrally stable strategies can be...

Persistent link: https://www.econbiz.de/10011256810

Evolution in Games with a Continuous Action Space

Veelen, Matthijs van - Tinbergen Instituut - 2001

This discussion paper resulted in a publication in <A href="http://link.springer.com/article/10.1007%2Fs00199-008-0338-8">'Economic Theory'</A>, 2009, 39(3), 355-376. Allowing for games with a continuous action space, we deal with the question whether and when static conceptslike evolutionary stability can shed any light on what happens in the dynamical context of a...</a>

Persistent link: https://www.econbiz.de/10011256428

The Unique-lowest Sealed-bid Auction

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

This discussion paper resulted in a publication in <A href="http://link.springer.com/article/10.1007%2Fs11238-010-9196-5">'Theory and Decision'</A>, 2011, 71(2), 269-295. 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...</a>

Persistent link: https://www.econbiz.de/10011256442

Optimal Incentive Contracts when Workers envy their Boss

Dur, Robert; Glazer, Amihai - Tinbergen Instituut - 2004

A worker's utility may increase with his income, but envy can make his utility decline with his employer's income. This … article uses a principal-agent model to study profit-maximizing contracts when a worker envies his employer. Envy tightens the … applications of our theoretical work: envy can explain why a lower-level worker is awarded stock options, why incentive pay is …

Persistent link: https://www.econbiz.de/10011256032

Comparative Analysis of Litigation Systems: An Auction-Theoretic Approach

Baye, Michael R.; Kovenock, Dan; Vries, Casper G. de - Tinbergen Instituut - 2000

A simple auction-theoretic framework is used to examine symmetric litigation environments where the legal ownership of a disputed asset is unknown to the court. The court observes only the quality of the case presented by each party, and awards the asset to the party presenting the best case....

Persistent link: https://www.econbiz.de/10011256628

Contests with Rank-Order Spillovers

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

-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 …, tournaments, R&D races, models of ligitation, and a host of other contests.This paper has been accepted by <A href …

Persistent link: https://www.econbiz.de/10011257530

Social Interaction, Co-Worker Altruism, and Incentives

Dur, Robert; Sol, Joeri - Tinbergen Instituut - 2008

colleagues, which in turn creates co-worker altruism. We study how financial incentives for productive activities can improve or …

Persistent link: https://www.econbiz.de/10011257180

The Sustainability of the Pay-as-you-go System with Falling Birth Rates

Praag, Bernard M.S. van; Cardoso, Pedro - Tinbergen Instituut - 2002

altruism. A fall in the population growth rate, even to negative values, will imply a reduction of the interest rate and an …

Persistent link: https://www.econbiz.de/10011257498

Capital Markets Integration, Growth and Income Distribution: A Dynamic Analysis

Viaene, Jean-Marie; Zilcha, Itzhak - Tinbergen Instituut - 1997

See also the publication in the European Economic Review, 2002, 301-327. The paper considers a two-country model of overlapping generations heterogenouseconomies with intergenerational transfers carried out in the form of bequest and investmentin human capital. We examine in competitive...

Persistent link: https://www.econbiz.de/10011261919

Social Relations and Relational Incentives

Dur, Robert; Tichem, Jan - Tinbergen Instituut - 2012

this end we develop a simple dynamic principal-agent model where both players may have feelings of altruism or spite toward …

Persistent link: https://www.econbiz.de/10011255564