Beauty contests are well-studied, dominance-solvable games that generate two interesting results. First, most behavior does not conform to the unique Nash equilibrium. Second, there is considerable unexplained heterogeneity in behavior. In this work, we evaluate the relationship between beauty...

Reciprocal behavior, the rewarding of kind acts and the punishment of unkind acts, is relatively well established among adults. We test if reciprocal behavior exists already among children 3-8 years old. Three simple anonymous allocation games are conducted with 242 children. In a first stage,...

In this paper, we use the classical twin design to provide estimates of genetic and environmental influences on experimentally elicited preferences for risk and giving. Using standard methods from behavior genetics, we find strong prima facie evidence that these preferences are broadly heritable...

In this paper, we use the classical twin design to provide estimates of genetic and environmental influences on experimentally elicited preferences for risk and giving. Using standard methods from behavior genetics, we find strong prima facie evidence that these preferences are broadly heritable...

Reciprocal behavior, the rewarding of kind acts and the punishment of unkind acts, is relatively well established among adults. We test if reciprocal behavior exists already among children 3-8 years old. Three simple anonymous allocation games are conducted with 242 children. In a first stage,...

Experimentalists frequently claim that human subjects playing games in the laboratory violate such solution concepts as Nash equilibrium and subgame perfection. This claim is premature. What has been rejected are certain joint hypotheses about preferences, knowledge, and behavior. This note...

"Beauty contests" are well-studied, dominance-solvable games that generate two interesting results. First, most behavior does not conform to the unique Nash equilibrium. Second, there is considerable unexplained heterogeneity in behavior. In this work, we evaluate the relationship between beauty...

Many clinical trials are in progress which involve the collection of patient-level data on both the health outcome and resource use consequences of the health care interventions under evaluation. The overall aim of many such evaluations will be to undertake a cost-effectiveness analysis, which...

We prove that, in all finite generic extensive-form games of perfect information, a continuous-time best response dynamic always converges to a Nash equilibrium component. We show the robustness of convergence by an approximate best response dynamic: whatever the initial state and an allowed...

We consider a basic stochastic evolutionary model with rare mutation and a best-reply (or better-reply) selection mechanism. Following Young's papers, we call a state stochastically stable if its long-term relative frequency of occurrence is bounded away from zero as the mutation rate decreases...