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Mutual knowledge of rationality in the electronic mail game
Takamiya, Koji; Tanaka, Akira - 2006
This paper reexamines the paradoxical aspect of the electronic mail game (Rubinstein, 1989). The electronic mail game is a coordination game with payoff uncertainty. At a Bayesian Nash equilibrium of the game, players cannot achieve the desired coordination of actions even when a high order of...
Persistent link: https://www.econbiz.de/10010332403
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Multistage information transmission with voluntary monetary transfer
Sadakane, Hiroshi - 2017
We examine multistage information transmission with voluntary monetary transfer in the framework of Crawford and Sobel … under some conditions (i) the decision maker can obtain more detailed information from the expert than that in the Crawford …
Persistent link: https://www.econbiz.de/10012013674
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Multistage Information Transmission with Voluntary Monetary Transfer
Sadakane, Hitoshi - 2019
information transmission with the receiver's voluntary payments can improve welfare. Moreover, we find an upper bound of the …. This result shows that multistage information transmission with voluntary monetary transfer can be more beneficial for the …
Persistent link: https://www.econbiz.de/10012901585
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College admissions and the role of information: An experimental study
Pais, Joana; Pintér, Agnes; Veszteg, Róbert F. - 2008
experimental lab in three different informational settings, and study the role of information in individual decision making. Our … truthful preference revelation. In addition, we find that information has an important effect on truthful behavior and … stability. Nevertheless, regarding efficiency, the Gale-Shapley mechanism is less sensitive to the amount of information …
Persistent link: https://www.econbiz.de/10010332350
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Nonverbal content and trust: An experiment on digital communication
Babutsidze, Zakaria; Hanaki, Nobuyuki; Zylbersztejn, Adam - 2021
We experimentally study the effect of the mode of digital communication on the emergence of trust in a principal-agent relationship. We consider three modes of communication that differ in the capacity to transmit nonverbal content: plain text, audio, and video. Communication is pre-play,...
Persistent link: https://www.econbiz.de/10012544020
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Market concentration and incentives to collude in Cournot oligopoly experiments
Hanaki, Nobuyuki; Masiliūnas, Aidas - 2021
Multiple Cournot oligopoly experiments found more collusive behavior in markets with fewer firms (Huck et al., 2004; Horstmann et al., 2018). This result could be explained by a higher difficulty to coordinate or by lower incentives to collude in markets with more firms. We show that the Quantal...
Persistent link: https://www.econbiz.de/10012544022
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One-leader and multiple-follower Stackelberg games with private information
Nakamura, Tomoya - 2014
This study analyzes one-leader and multiple-follower Stackelberg games with private information regarding demand … uncertainty. In the equilibrium of the Stackelberg games, a leader's private information becomes public information among … weight on public information regarding a follower's estimation of demand uncertainty. If the weight is sufficiently low (high …
Persistent link: https://www.econbiz.de/10011421496
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Social learning and delay in a dynamic model of price competition
Aoyagi, Masaki; Bhallay, Manaswini; Gunayz, Hikmet - 2014
This paper studies dynamic price competition over two periods between two firms selling differentiated durable goods to two buyers who are privately informed about their types, but have valuations of the two goods dependent on the other buyer's type. The firms' pricing strategy in period 1 must...
Persistent link: https://www.econbiz.de/10011421507
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Bertrand competition under network externalities
Aoyagi, Masaki - 2013
Two sellers engage in price competition to attract buyers located on a network. The value of the good of either seller to any buyer depends on the number of neighbors on the network who consume the same good. For a generic specification of consumption externalities, we show that an equilibrium...
Persistent link: https://www.econbiz.de/10010332222
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Efficient collusion in repeated auctions with communication
Aoyagi, Masaki - 2002
This paper studies collusion in repeated auctions when bidders communicate prior to each stage auction. The paper presents a folk theorem for independent and correlated private signals and general interdependent values. Specifically, it identifies conditions under which an equilibrium collusion...
Persistent link: https://www.econbiz.de/10010332262