Returns-based beliefs provides an explanation for the anomaly between the theory and empirics for the one-shot and finitely-repeated Prisoner’s Dilemma games. Even in a fully specified game, there is strategic uncertainty as players attempt to coordinate their actions. Therefore players form...

Do dominant or less dominant firms innovate more? Theoretically it has been shown that within an asymmetric mixed strategy game of a patent race, the less dominant firm invests more than the dominant firm. But the empirical data on patent races is divided. In this paper, we argue that the...

Marketing communication is a vital strategic tool for religious organizations to achieve competitive differentiation. The determinants of religious organizations’ use of direct and indirect communication channels offers valuable insights into their modus operandi. This paper uses novel primary...

This paper examines, theoretically and empirically, the impact of reproductive externalities on fertility behaviour in Kenya. We examine this issue by identifying structural forms of social interaction operating across individuals belonging to different ethnic groups on the number of children...

This paper examines the impact of reproductive externalities on fertility behaviour in Kenya by quantifying the effects of group membership on the number of children born. We focus on the identification of structural forms of social interaction operating across individuals in the context of...

Players cooperate in experiments more than game theory would predict. We introduce the ‘returns-based beliefs’ approach: the expected returns of a particular strategy in proportion to total expected returns of all strategies. Using a decision analytic solution concept, Luce’s (1959)...

This paper examines innovations to religious and non-religious service provision by religious organizations in India. We present a stylized Hotelling-style model in which two religious organizations position themselves at opposite locations to differentiate themselves on the religious spectrum...

This paper discusses the importance of paradoxes of irrationality for managers by elaborating upon the rational basis for the adoption of non-equilibrium strategies in game theory. It does so by revisiting the one-shot Traveler's Dilemma game, proposing a solution which reconciles the anomaly...

This paper brings together the notion of ‘son preference’ and the complementary concept of ‘daughter aversion’ to provide an explanation for larger Muslim, relative to Hindu, families in India. Just as sons bring ‘benefits’ to their parents, daughters impose ‘costs’ and...

This paper proposes a dynamic model of bargaining to analyze decentralized markets where buyers and sellers obtain information about past deals through their social network. There is a unique equilibrium outcome which depends crucially on the peripheral (least connected) individuals in each...