Showing 1 - 10 of 210
, resulting in incentive contracts, fail to ensure implementability, and we examine centralized collusion-proof contracts and …
Persistent link: https://www.econbiz.de/10011030492
actions (positive reciprocity). We find that collusion is easier to sustain when firms have a concern for reciprocity towards … concerns among firms can have adverse welfare consequences for consumers. …
Persistent link: https://www.econbiz.de/10011030515
actions (positive reciprocity). We find that collusion is easier to sustain when firms have a concern for reciprocity towards … concerns among firms can have adverse welfare consequences for consumers. …
Persistent link: https://www.econbiz.de/10009753710
and cost asymmetry. A dynamic collusion game is constructed, and backward induction is employed to solve the subgame … downstream collusion when the cost asymmetry is large and network externalities are relatively weak. …
Persistent link: https://www.econbiz.de/10014422321
We investigate experimentally whether the extent of conditional cooperation in public good games depends on the marginal per capita return (MPCR) to the public good and type of game. The MPCR is varied from 0.2 to 0.4 to 0.8. The ‘standard’ game, in which three players contribute before a...
Persistent link: https://www.econbiz.de/10010970523
<em>Baccara banque</em> is a three-person zero-sum game parameterized by \(\theta\in(0,1)\). A study of the game by Downton and Lockwood claimed that the Nash equilibrium is of only academic interest. Their preferred alternative is what we call the <em>independent cooperative equilibrium</em>. However, this...
Persistent link: https://www.econbiz.de/10011275206
This paper analyses a model of legislative bargaining in which parties form tentative coalitions (protocoalitions) before deciding on the allocation of a resource. Protocoalitions may fail to reach an agreement, in which case they may be dissolved (breakdown) and a new protocoalition may form....
Persistent link: https://www.econbiz.de/10011265463
In a recent paper, we analyzed the self-assembly of a complex cooperation network. The network was shown to approach a state where every agent invests the same amount of resources. Nevertheless, highly-connected agents arise that extract extraordinarily high payoffs while contributing comparably...
Persistent link: https://www.econbiz.de/10009653074
The replicator-mutator dynamics is a set of differential equations frequently used in biological and socioeconomic contexts to model evolutionary processes subject to mutation, error or experimentation. The replicator-mutator dynamics generalizes the widely used replicator dynamics, which...
Persistent link: https://www.econbiz.de/10009291593
We report experimental results on the minority of three-game, where three players choose one of two alternatives and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies that are non-strict and...
Persistent link: https://www.econbiz.de/10009293459