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Eichberger, Jürgen; Kelsey, David H.; Schipper, Burkhard C. - 2005

We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the effect of increasing (decreasing) equilibrium prices under...

Persistent link: https://www.econbiz.de/10010274390

The Evolutionary Stability of Optimism, Pessimism, and Complete Ignorance

Schipper, Burkhard - 2019

attitudes towards uncertainty and are ignorant to relevant aspects of their environment. Players in strategic games face … Knightian uncertainty about opponents' actions and maximize individually their Choquet expected utility with respect to neo …-additive capacities (Chateauneuf, Eichberger, and Grant, 2007) allowing for both an optimistic or pessimistic attitude towards uncertainty …

Persistent link: https://www.econbiz.de/10012655881

The ownership of funds and systems for reparation of very large accidents

Bolin, Kristian - 1999

that the total assets of the injurer are not sufficient to pay for all damages. That is, strict liability for the injurer … compensated, in case of an accident, mandatory liability insurance has been introduced. This may have eroded the incentives to … Brussels International Convention on Civil Liability for Oil pollution damage, CLC. The purpose of this convention is to …

Persistent link: https://www.econbiz.de/10013208400

Coauthorship Networks and Research Output

König, Michael D.; Liu, Xiaodong; Zimmermann, Christian - 2015

We study the impact of research collaborations in coauthorship networks on total research output. Through the links in the collaboration network researchers create spillovers not only to their direct coauthors but also to researchers indirectly linked to them. We characterize the interior...

Persistent link: https://www.econbiz.de/10011420563

Indirect Evolution versus Strategic Delegation: A Comparison of Two Approaches to Explaining Economic Institutions

Dufwenberg, Martin; Güth, Werner - 1998

Two major methods of explaining economic institutions, namely by strategic choices or through (indirect) evolution, are compared for the case of a homogenous quadratic duopoly market. Sellers either can provide incentives for agents to care for sales, or evolve as sellers who care for sales in...

Persistent link: https://www.econbiz.de/10010321706

Ordinal potentials in smooth games

Ewerhart, Christian - 2019

In the class of smooth non-cooperative games, exact potential games and weighted potential games are known to admit a convenient characterization in terms of cross-derivatives (Monderer and Shapley, 1996a). However, no analogous characterization is known for ordinal potential games. The present...

Persistent link: https://www.econbiz.de/10012111391

Imitators and optimizers in Cournot oligopoly

Schipper, Burkhard C. - 2005

We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round a la Vega-Redondo (1997). Optimizers play a myopic best response to the opponents' previous output....

Persistent link: https://www.econbiz.de/10010266401

Incentives for subjects in internet experiments

Duersch, Peter; Oechssler, Jörg; Schipper, Burkhard C. - 2008

Internet experiments are a new and convenient way for reaching a large subject pool. Yet, providing incentives to subjects can be a tricky design issue. One cost effective and simple method is the publication of a high score (as in computer games). We test whether a high score provides adequate...

Persistent link: https://www.econbiz.de/10010266412

Cournot competition between teams: an experimental study

Schipper, Burkhard C.; Raab, Philippe - 2007

In the economic literature on market competition, firms are often modelled as individual decision makers and the internal organization of the firm is neglected (unitary player assumption). However, as the literature on strategic delegation suggests, one can not generally expect that the behavior...

Persistent link: https://www.econbiz.de/10010276634

Myopic Oligopoly Pricing

Bos, Iwan; Marini, Marco A.; Saulle, Riccardo D. - 2021

This paper examines capacity-constrained oligopoly pricing with sellers who seek myopic improvements. We employ the Myopic Stable Set solution concept and establish the existence of a unique pure-strategy price solution for any given level of capacity. This solution is shown to coincide with the...

Persistent link: https://www.econbiz.de/10012819786

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