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Why do people stall while bargaining? Why are people keen to conclude a deal quickly, only to subsequently allow delay … market and the lower the discount rate. Thus, we give some predictive power to the new corpus of work on bargaining with …
Persistent link: https://www.econbiz.de/10005090621
matching protocol, but does not interfere with the bargaining, eliminates all delay. Even though this efficient centralized …
Persistent link: https://www.econbiz.de/10010661441
Ultimatum games have been extensively used in experimental studies. By studying the consequences that restrictions shared by ultimatum games have in subject`s behaviour, this paper argues that some results are falsified by design constraints. This paper also presets a taxonomy of certification,...
Persistent link: https://www.econbiz.de/10010604902
, we present an experimental test of the effect of common fate in bargaining settings. Virtually all subjects …
Persistent link: https://www.econbiz.de/10005047846
We study evolutionary dynamics in assignment games where many agents interact anonymously at virtually no cost.  The process is decentralized, very little information is available and trade takes place at many different prices simultaneously.  We propose a completely uncoupled learning process...
Persistent link: https://www.econbiz.de/10011004342
This paper presents a bargaining model between individuals belonging to different groups where the equilibrium outcome … bargaining rounds.  In the long-term there is a unique stochastically stable equilibruim which depends on the peripheral or least …
Persistent link: https://www.econbiz.de/10004982009
We study decentralized learning dynamics for the classic assignment game with transferable utility.  At random points in time firms and workers match, break up, and re-match in the sesarch for better opportunities.  We propose a simple learning process in which players have no knowledge about...
Persistent link: https://www.econbiz.de/10011071726
Through an experiment this study investigates the effects that verification has on honest traders. This paper demonstrates that by reducing the scope for trust verification can have a negative effect on the behaviour of honest individuals. Specifically, the analysis shows that trustworthy agents...
Persistent link: https://www.econbiz.de/10010605085
The diffusion of an innovation can be represented by a process in which agents choose perturbed best responses to what their neighbors are currently doing.  Diffusion is said to be fast if the expected waiting time until the innovation spreads widely is bounded above independently of the size...
Persistent link: https://www.econbiz.de/10011004149
A long-standing open question raised in the seminal paper of Kalai and Lehrer (1993) is whether or not the play of a repeated game, in the rational learning model introduced there, must eventually resemble play of exact equilibria, and not just play of approximate equilibria as demonstrated...
Persistent link: https://www.econbiz.de/10011004368