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We here develop a model of pre-play communication that generalizes the cheap-talk approach by allowing players to have a lexicographic preference, second to the payoffs in the underlying game, for honesty. We formalize this by way of an honesty (or truth) correspondence between actions and...
Persistent link: https://www.econbiz.de/10010281162
the context of Young's (1993b)bargaining model. It turns out that "cleverness" in this respect indeed does have an … bargaining solution remains the unique long-run outcome when the mutation rate goes to zero. …
Persistent link: https://www.econbiz.de/10005190635
the context of Young's (1993b)bargaining model. It turns out that 'cleverness' in this respect indeed does have an … bargaining solution remains the unique long-run outcome when the mutation rate goes to zero. …
Persistent link: https://www.econbiz.de/10010334971
the context of Young's (1993b) bargaining model. It turns out that "cleverness" in this respect indeed does have an … bargaining solution remains the unique long-run outcome when the mutation rate goes to zero. …
Persistent link: https://www.econbiz.de/10005649167
Persistent link: https://www.econbiz.de/10000995373
Persistent link: https://www.econbiz.de/10001394146
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Persistent link: https://www.econbiz.de/10001920669
What preferences will prevail in a society of rational individuals when preference evolution is driven by their success in terms of resulting payoffs? We show that when individuals’ preferences are their private information, a convex combinations of selfishness and morality stand out as...
Persistent link: https://www.econbiz.de/10010928930
Language is arguably a powerful coordination device in real-life interactions. We here develop a game-theoretic model of two-sided pre-play communication that generalizes the cheap-talk approach by way of introducing a meaning correspondence between messages and actions, and postulating two...
Persistent link: https://www.econbiz.de/10005094072