Showing 1 - 10 of 236
I develop a model of collaboration between tournament participants in which agents collaborate in pairs, and an endogenous structure of collaboration is represented by a weighted network. The agents are forward-looking and capable of coordination; they value collaboration with others and higher...
Persistent link: https://www.econbiz.de/10011937299
In winner-take-all tournaments, agents' performance is determined jointly by effort and luck, and the top performer is rewarded. We study the impact of the ''shape of luck'' -- the details of the distribution of performance shocks -- on incentives in such settings. We are concerned with the...
Persistent link: https://www.econbiz.de/10012415494
Persistent link: https://www.econbiz.de/10011688966
Battigalli and Siniscalchi (2002) formalize the idea of forward induction reasoning as "rationality and common strong belief of rationality" (RCSBR). Here, we study the behavioral implications of RCSBR across all type structures. Formally, we show that RCSBR is characterized by a solution...
Persistent link: https://www.econbiz.de/10011690929
This paper provides a general study of a contest modeled as a multiplayer incomplete-information, all-pay auction with sequential entry. The contest consists of multiple periods. Players arrive and exert efforts sequentially to compete for a prize. They observe the efforts made by their earlier...
Persistent link: https://www.econbiz.de/10014576711
This paper generalizes the concept of Bayes' correlated equilibrium Bergemann and Morris (2016) to multistage games. We apply our characterization results to a number of illustrative examples and applications.
Persistent link: https://www.econbiz.de/10014440070
This paper studies a game of attack and interception in a network where a single attacker chooses a target and a path, and each node chooses a level of protection. We show that the Nash equilibrium of the game exists and is unique. We characterize equilibrium attack paths and attack...
Persistent link: https://www.econbiz.de/10014440079
This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics correspond to the Nash equilibria of the stage game. It is shown that if the stage game has a monotone...
Persistent link: https://www.econbiz.de/10011700407
Strategy-proofness, requiring that truth-telling be a dominant strategy, is a standard concept in social choice theory. However, this concept has serious drawbacks. In particular, many strategy-proof mechanisms have multiple Nash equilibria, some of which produce the wrong outcome. A possible...
Persistent link: https://www.econbiz.de/10011702527
A learning rule is uncoupled if a player does not condition his strategy on the opponent's payoffs. It is radically uncoupled if a player does not condition his strategy on the opponent's actions or payoffs. We demonstrate a family of simple, radically uncoupled learning rules whose...
Persistent link: https://www.econbiz.de/10011702986