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Repeated games played in a network
Kinateder, Markus - 2008
Delayed perfect monitoring in an infinitely repeated discounted game is modelled by allocating the players to a connected and undirected network. Players observe their immediate neighbors' behavior only, but communicate over time the repeated game's history truthfully throughout the network. The...
Persistent link: https://www.econbiz.de/10010270931
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The repeated prisoner's dilemma in a network
Kinateder, Markus - 2010
Imperfect private monitoring in an infinitely repeated discounted Prisoner's Dilemma played on a communication network is studied. Players observe their direct neighbors' behavior only, but communicate strategically the repeated game's history throughout the network. The delay in receiving this...
Persistent link: https://www.econbiz.de/10010272435
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Learning to Play Approximate Nash Equilibria in Games with Many Players
Cartwright, Edward - 2004
We illustrate one way in which a population of boundedly rational individuals can learn to play an approximate Nash equilibrium. Players are assumed to make strategy choices using a combination of imitation and innovation. We begin by looking at an imitation dynamic and provide conditions under...
Persistent link: https://www.econbiz.de/10011324955
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Markets and cooperation
Spagnolo, Giancarlo - 1999
Why do money and markets crowd out co-operative relations? This paper characterises the effects of intertemporal preferences, money, and markets on players' ability to co-operate in material-payoff supergames. Players' aversion to intertemporal substitution facilitates co-operation by decreasing...
Persistent link: https://www.econbiz.de/10011608563
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The rise and fall of the Great Fish Pact under endogenous risk of stock collapse
Walker, Adam N.; Weikard, Hans-Peter; Richter, Andries - 2015
Risk of stock collapse is a genuine motivation for cooperative fisheries management. We analyse the effect of an endogenously determined risk of stock collapse on the incentives to cooperate in a Great Fish War model. We establish that equilibrium harvest strategies are non-linear in stock and...
Persistent link: https://www.econbiz.de/10011307298
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Special Interests and Technological Change
Bellettini, Giorgio; Ottaviano, Gianmarco I.P. - 2003
We study an OLG economy where productivity growth comes from two alternative sources: process innovation and learning …-by-doing. There is a trade-off between the two in so far as frequent technological updates reduce the scope for learning on existing … prefer learning. We model the interaction between overlapping generations and policy makers as a dynamic common agency …
Persistent link: https://www.econbiz.de/10011325072
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Dynamic Price Competition with Price Adjustment Costs and Product Differentiation
Vernasca, Gianluigi - 2003
We study a discrete time dynamic game of price competition with spatially differentiated products and price adjustment costs. We characterise the Markov perfect and the open-loop equilibrium of our game. We find that in the steady state Markov perfect equilibrium, given the presence of...
Persistent link: https://www.econbiz.de/10011325148
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Stochastic stability in the best shot game
Boncinelli, Leonardo; Pin, Paolo - 2010
The best shot game applied to networks is a discrete model of many processes of contribution to local public goods. It has generally a wide multiplicity of equilibria that we refine through stochastic stability. In this paper we show that, depending on how we define perturbations, i.e. the...
Persistent link: https://www.econbiz.de/10010272469
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Team formation in a network
Kinateder, Markus - 2009
Two project leaders (or entrepreneurs) in a network, which captures social relations, recruit players in a strategic, competitive and time-limited process. Each team has an optimal size depending on the project's quality. This is a random variable with a commonly known distribution. Only the...
Persistent link: https://www.econbiz.de/10010279489
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Networks with group counterproposals
Nieva, Ricardo - 2008
We study two n-player sequential network formation games with externalities. Link formation is tied to simultaneous transfer selection in a Nash demand like game in each period. Players in groups can counterpropose. We give necessary and sufficient conditions for efficiency in terms of cyclical...
Persistent link: https://www.econbiz.de/10010279529