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Understanding Perpetual R&D Races
Breitmoser, Yves; Tan, Jonathan H.W.; Zizzo, Daniel John - Centre for Decision Research and Experimental Economics … - 2008
are far less sensitive. In most treatments, the R&D races tend to converge to entrenched leadership. Investment is highest …
Persistent link: https://www.econbiz.de/10005150908
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Understanding Perpetual R&D Races
Breitmoser, Yves; Tan, Jonathan H.W.; Zizzo, Daniel John - Centre for Decision Research and Experimental Economics … - 2008
are far less sensitive. In most treatments, the R&D races tend to converge to entrenched leadership. Investment is highest …
Persistent link: https://www.econbiz.de/10010552256
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Understanding Perpetual R&D Races
Breitmoser, Yves; Tan, Jonathan H. W.; Zizzo, Daniel John - Centre for Competition Policy, University of East Anglia - 2008
' strategies are far less sensitive. In most treatments the R&D races tend to converge to entrenched leadership. Investment is …
Persistent link: https://www.econbiz.de/10004968057
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On the beliefs off the path: Equilibrium refinement due to quantal response and level-k
Breitmoser, Yves; Tan, Jonathan H.W.; Zizzo, Daniel John - In: Games and Economic Behavior 86 (2014) C, pp. 102-125
The extensive form game we study has multiple perfect equilibria, but it has a unique limiting logit equilibrium (QRE) and a unique level-k prediction as k approaches infinity. The convergence paths of QRE and level-k are different, but they converge to the same limit point. We analyze whether...
Persistent link: https://www.econbiz.de/10010785195
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A Test of Perpetual R&D Races
Breitmoser, Yves; Tan, Jonathan H. W.; Zizzo, Daniel John - Centre for Competition Policy, University of East Anglia - 2006
' strategies are far less sensitive. In most treatments the R&D races tend to converge to entrenched leadership. Investment is …
Persistent link: https://www.econbiz.de/10005001434
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On the beliefs off the path: Equilibrium refinement due to quantal response and level-k
Breitmoser, Yves; Tan, Jonathan H. W.; Zizzo, Daniel John - School of Economics, University of East Anglia - 2010
This paper studies the relevance of equilibrium and nonequilibrium explanations of behavior, with respects to equilibrium refinement, as players gain experience. We investigate this experimentally using an incomplete information sequential move game with heterogeneous preferences and multiple...
Persistent link: https://www.econbiz.de/10010571487
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Professional interpretation of the standard of proof: An experimental test on merger regulation
Lyons, Bruce; Menzies, Gordon Douglas; Zizzo, Daniel John - School of Economics, University of East Anglia - 2009
authorities. However, differences in economic analysis are not the only reason for alternative decisions. We conduct an experiment … proof, volumes of evidence, cost of error and professional training. The experiment was conducted on current practitioners …
Persistent link: https://www.econbiz.de/10010571504
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Keep Up With the Winners: Experimental Evidence on Risk Taking, Asset Integration, and Peer Effects
Fafchamps, Marcel; Kebede, Bereket; Zizzo, Daniel John - C.E.P.R. Discussion Papers - 2013
experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the …
Persistent link: https://www.econbiz.de/10011084146
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Keep Up With the Winners: Experimental Evidence on Risk Taking, Asset Integration, and Peer Effects
Fafchamps, Marcel; Kebede, Bereket; Zizzo, Daniel John - School of Economics, University of East Anglia - 2014
experiment affects risk taking. We and some evidence of imitation of the risk taking behavior of others that is distinct from …The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the …
Persistent link: https://www.econbiz.de/10010890956
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News and Expectations in Financial Markets : An Experimental Study
Menzies, Gordon Douglas - 2008
We consider an experimental setting where traders in stock markets or exchange rate markets receive one stylized piece of information at a time about the value of an asset. We find that having limited knowledge about the prior distribution of true asset values does not hamper the decision making...
Persistent link: https://www.econbiz.de/10012722878