A lie is an expression at deviance with the truth known or honestly believed by someone with an intention to deceive others for certain purpose, social or personal. An ability to lie might be evolutionary in nature possibly to help in survival, since it is found in the non-human world also. In...

Exploration is a costly activity that helps a business improve their understanding of a potential mineral deposit. Yet, even with strong exploration results, the business faces uncertainty over the value of the mine. I model this situation as a game of chance. The game starts by giving an agent...

Models of rational choice use different definitions of rationality. However, there is no clear description of the latter. We recognize rationality as a conceptual conglomerate where reason, judgment, deliberation, relativity, behavior, experience, and pragmatism interact. Using our definition,...

This research examines how the reliance on emotional feelings as a heuristic influences the proposal of offers in negotiations. Results from three experiments based on the classic ultimatum game show that, compared to proposers who do not rely on their feelings, proposers who rely on their...

This paper investigates bidder's covert behavior of endogenous information acquisition on her opponents' valuations in first price auction model with independent private values. Such an information acquisition setting leads to bidimensional type space and bidimensional strategy space. We...

In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions interdependent (strategic communication). Schelling's originality...

Abandoning the oft-presumed common prior assumption, partitioned type spaces with disparate priors are studied. It is shown that in the two-player case, a unique fundamental pair of priors can be identified in each type space, from whose properties boundaries on the possible ranges of expected...

We generalize the "No-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and Schipper (2009) to the infinite case.

In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions interdependent (strategic communication). Schelling's originality...

Often an organization or government must allocate goods without collecting payment in return. This may pose a difficult problem either when agents receiving those goods have private information in regards to their values or needs or when discriminating among agents using known differences is not...