The paper presents the concept of an "imitation equilibrium" and explores it in the context of some simple oligopoly models. The concept applies to normal form games enriched by a "reference structure" specifying a "reference group" for every player. The reference group is a set of other...

The public debt may hamper US GDP say studies that estimate debt tipping effects as if there were a single world currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do not live in the...

The prior paper in this sequel, Pope (2009) introduced the concept of a nominalist heuristic, defined as a focus on prominent numbers, indices or ratios. In this paper the concept is used to show three things in how scientists and practitioners analyse and evaluate to decide (conclude). First,...

In the evaluation of experiments often the problem arises how to compare the predictive success of competing probabilistic theories. The quadratic soring rule can be used for this purpose. Originally this rule has been proposed as an incentive compatible elicitation method for probabilistic...

Nine groups of three subjects each repeatedly interacted in sealed bid first price auctions for fifty periods. In every period each subject specified a piecewise linear bid function shown on the computer screen. Then random values were drawn for each subject and bids were determined according to...

We introduce a model of a cyclic game. Designed to take advatange of the recurring nature of certain economic and social situations, a cyclic game differs from an extensive form game in that a cyclic game does not necessarily have an end. The same situations, although with different players may...