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. -- nominalism ; money illusion ; heuristic ; unpredictability ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; prominent …
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The notion of a cyclic game has been introduced by Selten and Wooders (2001). They illustrate the concept by the analysis of a cyclic duopoly game. The experiments reported concern this game. The game was played by eleven matching groups of six players each. The observed choice frequencies were...
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classified as equilibrating. -- central bank ; cooperation ; conflict ; exchange rate ; experiment ; market power ; heuristics …
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experiment. The laboratory experiment avoids measurement errors towhich econometric estimation is subject concerning omitted or … independenceand false synchronicity in decision response lags to stimuli. Our laboratory experiment also embeds a newtheory of … ; IMF ; exchange rate regime ; exchange rate volatility ; experiment ; SKAT the Stages of Knowledge Ahead Theory ; monetary …
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The paper reports laboratory experiments on a day-to-day route choice game with two routes. Subjects had to choose between a main road M and a side road S. The capacity was greater for the main road. 18 subjects participated in each session. In equilibrium the number of subjects is 12 on M and 6...
Persistent link: https://www.econbiz.de/10011506494
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 players, whom...
Persistent link: https://www.econbiz.de/10011538885
We report an experiment on a decision task by SAMUELSON and BAZERMAN (1985). Subjects submit a bid for an item with an …
Persistent link: https://www.econbiz.de/10011539130