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Games with incomplete information or randomness in the moves of others typically have many decision … of randomizations in the type of a player. Solution concepts, assumptions or paradoxes in games should be independent of … the formulation of the game used. I refer to this axiom as TIGER, for "Type Independence among Games which are …
Persistent link: https://www.econbiz.de/10005605554
We make three contributions to the theory of contracting under asymmetric information. First, we establish a … competitive revelation principle for contracting games in which several principals compete for one privately informed agent. In …
Persistent link: https://www.econbiz.de/10005146848
We introduce the framework of noncooperative pregames and demonstrate that for all games with sufficiently many players … information. …
Persistent link: https://www.econbiz.de/10005747143
equilibrium under fictitious play like learning processes. We use two 4 x 4 games each with a unique mixed Nash equilibrium; one … is stable and one is unstable under learning. Both games are versions of Rock-Paper-Scissors with the addition of a …We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The 'TASP …
Persistent link: https://www.econbiz.de/10010288137
games learning fails to converge to any equilibrium, either in terms of marginal frequencies or of average play. Subjects … played repeatedly in fixed pairings one of two 3 ´ 3 games, each having a unique Nash equilibrium in mixed strategies. The … equilibrium of one game is predicted to be stable under learning, the other unstable, provided payoffs are sufficiently high. We …
Persistent link: https://www.econbiz.de/10005101118
We investigate the stability of mixed strategy equilibria in 2 person (bimatrix) games under perturbed best response … set of perturbed equilibria is shown also for (rescaled) partnership games (also know as games of identical interest …). Some applications of these result to stochastic learning models are given. …
Persistent link: https://www.econbiz.de/10005750736
equilibrium under fictitious play like learning processes. We use two 4 x 4 games each with a unique mixed Nash equilibrium; one … is stable and one is unstable under learning. Both games are versions of Rock-Paper-Scissors with the addition of a …We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The “TASP …
Persistent link: https://www.econbiz.de/10005750758
This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...
Persistent link: https://www.econbiz.de/10014023678
conclude that learning effects are more important than selection effects for explaining differences between inexperienced and …
Persistent link: https://www.econbiz.de/10012141443
Using coordination games, we study whether social norm perception differs between inexperienced and experienced … the context of daily life does not differ between the two groups. We therefore conclude that learning through experience …
Persistent link: https://www.econbiz.de/10012141453