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Information and beliefs in a repeated normal-form game

Fehr, Dietmar; Kübler, Dorothea; Danz, David - 2008

We study beliefs and choices in a repeated normal-form game. In addition to a baseline treatment with common knowledge of the game structure and feedback about choices in the previous period, we run treatments (i) without feedback about previous play, (ii) with no information about the...

Persistent link: https://www.econbiz.de/10010268780

Information and learning in oligopoly: An experiment

Bigoni, Maria; Fort, Margherita - 2013

This paper presents an experiment on learning in repeated games, which complements the analysis of players' actual …

Persistent link: https://www.econbiz.de/10010291432

Reputations, relationships and the enforcement of incomplete contracts

MacLeod, W. Bentley - 2006

This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz...

Persistent link: https://www.econbiz.de/10010267674

Efficiency gains from team-based coordination: large-scale experimental evidence

Feri, Francesco; Irlenbusch, Bernd; Sutter, Matthias - 2008

coordinate with other teams. We present an experiment with 825 participants, using six different coordination games, where either …

Persistent link: https://www.econbiz.de/10010268555

An Experimental Study of the POUM Hypothesis

Checchi, Daniele; Filippin, Antonio - 2003

period and individuals are not too risk averse. This paper tests the POUM hypothesis by means of a within subjects experiment … inequality aversion are (partially) controlled for via either the experiment design or the information collected during the … experiment. We find that the POUM hypothesis holds under alternative specifications, even when we control for individual fixed …

Persistent link: https://www.econbiz.de/10010261622

Learning of General Equilibrium Effects and the Unemployment Trap

Gersbach, Hans; Schniewind, Achim - 2001

We examine wage bargaining when employers and labor unions do not always take all general equilibrium effects into account but learn a steady state. If agents do hardly consider general equilibrium effects, low real wages and low unemployment results. With an intermediate view, when partial...

Persistent link: https://www.econbiz.de/10010262458

The rate of learning-by-doing: estimates from a search-matching model

Prat, Julien - 2007

We construct and estimate by maximum likelihood an equilibrium search model where wages are set by Nash bargaining and idiosyncratic productivity follows a geometric Brownian motion. The proposed framework enables us to endogenize job destruction and to estimate the rate of learning-by-doing....

Persistent link: https://www.econbiz.de/10010268410

Efficient tax policy ranks education higher than saving

Richter, Wolfram F. - 2008

Assuming a two-period model with endogenous choices of labour, education, and saving, it is shown to be second-best efficient not to distort the choice of education. In general this implies distorting the saving decision. Hence a strict order of policy priority is derived. Efficient tax policy...

Persistent link: https://www.econbiz.de/10010268642

Job market signaling and employer learning

Alós-Ferrer, Carlos; Prat, Julien - 2008

This paper extends the job market signaling model of Spence (1973) by allowing firms to learn the ability of their employees over time. Contrary to the model without employer learning, we find that the Intuitive Criterion does not always select a unique separating equilibrium. When the Intuitive...

Persistent link: https://www.econbiz.de/10010268897

Don't give up on me baby: spousal correlation in smoking behaviour

Clark, Andrew E.; Etilé, Fabrice - 2005

We use nine waves of BHPS data to examine interactions between spouses in terms of a behaviour with important health repercussions: cigarette smoking. Correlation between partners' behaviours may be due to correlated effects, as a consequence of matching or information revealed by others'...

Persistent link: https://www.econbiz.de/10010272016

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