Showing 1 - 10 of 119
This paper shows that a cartel that observes neither costs, prices, nor sales may still enforce a collusive agreement by tying each firm's continuation profit to the truncated current profits of the other firms. The mechanism applies to both price and quantity competition, and the main features...
Persistent link: https://www.econbiz.de/10011263582
We characterize and compare closed-loop (feedback) price and quantity strategies within a full-fledged dynamic model of oligopolistic competition in which production requires exploitation of a renewable productive asset. Unlike previous papers on the strategic exploitation of productive assets,...
Persistent link: https://www.econbiz.de/10011189743
We explore the stability of imitation in a 1200-period experimental Cournot game where subjects do not know the payoff …
Persistent link: https://www.econbiz.de/10011189751
We consider a two-player Prisoner's Dilemma type game with continuous actions, where players choose how much to contribute to a public project. This game is played infinitely many times and actions are irreversible: players cannot decrease their actions over time. While it is strictly dominant...
Persistent link: https://www.econbiz.de/10011263573
In a setting where an infinite population of players interact locally and repeatedly, we study the impacts of payoff …
Persistent link: https://www.econbiz.de/10011263580
This study considers waiting times for populations to achieve efficient social coordination. Belloc and Bowles [1] conjecture that coalitional behavior will hasten such coordination. This turns out to be true when every member of the population interacts with every other member, but does not...
Persistent link: https://www.econbiz.de/10011263589
This paper considers marriage problems, roommate problems with nonempty core, and college admissions problems with responsive preferences. All stochastically stable matchings are shown to be contained in the set of matchings which are most robust to one-shot deviation.
Persistent link: https://www.econbiz.de/10011263593
The paper presents a dynamic model of neighborhood segregation where fee motivated real estate brokers match sellers optimally either to minority or to white buyers. In an initially all-white neighborhood, real estate brokers thus either keep the neighborhood in a steady-state white equilibrium...
Persistent link: https://www.econbiz.de/10011263609
Congestion games are multi-player games in which players' costs are additive over a set of resources that have anonymous cost functions, with pure strategies corresponding to certain subsets of resources. In a splittable congestion game, each player can choose a convex combination of subsets of...
Persistent link: https://www.econbiz.de/10011189742
We prove existence and purification results for strategic environments possessing a product structure that includes classes of large games, stochastic games, and models of endogenous institutions. Applied to large games, the results yield existence of pure-strategy equilibria allowing for...
Persistent link: https://www.econbiz.de/10011189746