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It is standard in experimental economics to use decontextualized designs where payoff structures are presented using neutral language. Here we show that cooperation in such a neutrally framed Prisoner’s Dilemma is equivalent to a PD framed as contributing to a cooperative endeavour....
Persistent link: https://www.econbiz.de/10011041589
This article develops a simple theoretical framework to show how forecasters may bias downward point predictions under the assumption that the asymmetric loss function is directly related to the (Mean) Absolute Percentage Error (M)APE.
Persistent link: https://www.econbiz.de/10010572176
In an experiment, a group of strangers was randomly divided in pairs to play a prisoners’ dilemma; this process was indefinitely repeated. Cooperation did not increase when subjects could send public messages amounting to binding promises of future play.
Persistent link: https://www.econbiz.de/10010688075
We estimate the relative contribution of recursive preferences versus adaptive learning in accounting for the tail …
Persistent link: https://www.econbiz.de/10010930720
This paper experimentally investigates the nature of impulses in impulse learning. Particularly, we analyze whether …
Persistent link: https://www.econbiz.de/10010709094
This paper provides an analysis of solutions for allocation problems from an axiomatic point of view, proposing a decomposition for the space of such problems into direct sum of irreducible subspaces that are relevant to the study of linear symmetric solutions. In particular, we obtain...
Persistent link: https://www.econbiz.de/10011263418
We analyze the formation of bilateral R&D collaborations in an oligopoly when each firm benefits from the research done by other firms it is connected to. In contrast to myopic stability, farsighted stability leads to R&D networks consisting of two minimally connected components, with the...
Persistent link: https://www.econbiz.de/10011116200
In social choice settings with linear preferences, random dictatorship is known to be the only social decision scheme satisfying strategyproofness and ex post efficiency. When also allowing indifferences, random serial dictatorship (RSD) is a well-known generalization of random dictatorship that...
Persistent link: https://www.econbiz.de/10010729460
We study the welfare implications of public information precision in a beauty contest framework allowing for optimal stabilization policies and information obfuscation. When policy makers’ ability to obfuscate information is constrained, increasing public information precision can be welfare...
Persistent link: https://www.econbiz.de/10010906357
This paper reports an experimental investigation of a trust game using either cash or class credit as incentives to participants. We recruit from two auditorium classes. In one class, each token has cash value; in the other, each token is worth extra-credit points added to the students’ overall...
Persistent link: https://www.econbiz.de/10010906358