Showing 1 - 10 of 71
Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this … effect of contracts on bargaining threatpoints. We compare situations in which an initial contract is renegotiated to … strategically equivalent bargaining situations in which no ex ante contract was written. The ex ante contract causes sellers to ask …
Persistent link: https://www.econbiz.de/10009743168
unique pure-strategy Nash equilibrium in rent-seeking games of complete information. In this paper, we generalize their … results to contests with incomplete informa tion. Two assumptions are imposed on the information structure. First, the players …
Persistent link: https://www.econbiz.de/10010208517
We consider a class of incomplete-information Colonel Blotto games in which N ≥ 2 agents are engaged in (N + 1 … battlefield. In contrast to the single-unit case, however, agents never enjoy any information rent. We also outline an extension …
Persistent link: https://www.econbiz.de/10012123363
In this paper, we study N-player Colonel Blotto games with incomplete information about battlefield valuations. Such …
Persistent link: https://www.econbiz.de/10012436059
This paper studies the incentives for interim voluntary disclosure of verifiable information in probabilistic all …-pay contests with two-sided incomplete information. Private information may concern marginal cost, valuations, and ability. Our … information is one-sided. However, the principle breaks down when contestants are potentially too similar in strength, possess …
Persistent link: https://www.econbiz.de/10014321141
Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade...
Persistent link: https://www.econbiz.de/10010360299
(ERA) is a first-price auction in which truthful bidding is encouraged by bonus payments. We test the robustness property …
Persistent link: https://www.econbiz.de/10010360336
spite extends to the seller. We experimentally test the model predictions by exogenously varying the presence of human …
Persistent link: https://www.econbiz.de/10011456510
Behavioral robustness is essential in mechanism design. Existing papers focus on robustness as captured by dominant strategies. This paper studies the novel concept of externality-robustness, which addresses players' motives to affect other players' monetary payoffs. One example is externalities...
Persistent link: https://www.econbiz.de/10011471404
Behavioral robustness is essential in mechanism design. Existing papers focus on robustness as captured by dominant strategies. This paper studies the novel concept of externality-robustness, which addresses players' motives to affect other players' monetary payoffs. One example is externalities...
Persistent link: https://www.econbiz.de/10011389576