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We consider partial bandwagon properties in the context of coordination games to capture the idea of weak network … externalities. We then study a local interactions model where agents play a coordination game following a noisy best-reply process …. We show that globally pairwise risk dominant strategies are selected in arbitrary 3×3 coordination games, but not …
Persistent link: https://www.econbiz.de/10009471891
. Learning, mutation, and long run equilibria in games. Econometrica 61, 29–56], where agents follow best-response decision rules …
Persistent link: https://www.econbiz.de/10009471754
Uncertainty and learning play an important role in addressing the problem of climatechange. In stylized game … shown that learning usually has a negative impact on the success of cooperation. This paper asks the question whether this …, we derive much morepositive conclusions about the role of learning. …
Persistent link: https://www.econbiz.de/10009465921
Online Consumer-to-Consumer Communication Networks are characterized by informational and social benefits as well as time and effort costs for participants. Therefore, this dissertation takes an economic perspective on the network formation process as a determinant of value for consumers and...
Persistent link: https://www.econbiz.de/10009467397
Mit der Liberalisierung des europäischen Marktes für elektrische Energie haben sich die Randbedingungen für alle in diesem Markt tätigen Unternehmen grundlegend verändert. Um das langfristige Ziel eines europäischen Binnenmarktes zu erreichen, sind erhebliche Eingriffe in die unter...
Persistent link: https://www.econbiz.de/10009467426
Diese Doktorarbeit besteht aus vier eigenständigen Forschungsarbeiten, die in der Zeit von Oktober 2004 bis Oktober 2007 geschrieben wurden, während ich Teilnehmer am "Doctoral Programme in Quantitative Economics and Finance" an der Universität Konstanz war. Meine Forschungsinteressen...
Persistent link: https://www.econbiz.de/10009471697
Today's predominant disclosure philosophy calls for the fulldisclosure of all decision relevant information bycompanies. More publicly available information, theargument goes, limits the adverse selection problem by reducinginformation asymmetry among heterogeneous investors. Thus, theliquidity...
Persistent link: https://www.econbiz.de/10009475317
Die Gründung des GATT Abkommens im Jahr 1947 sowie die Welthandelsorganisation führten zu weltweiten Zollsenkung. Seit deren Gründung haben sich mehr als 150 Länder innerhalb von acht Verhandlungsrunden auf Zollsenkungen von durchschnittlich 40% auf nunmehr 4% geeinigt.Hauptsäule der WTO...
Persistent link: https://www.econbiz.de/10009476160
The importance of social and economic networks has meanwhile been widely acknowledged throughout social sciences. Network positions are supposed to be important for both, consumers and suppliers. Examples are R&D collaborations, strategic alliances, knowledge management within organizations,...
Persistent link: https://www.econbiz.de/10009452644
coordination game has a unique symmetric non-sunspot equilibrium, which is also risk-dominant. Other equilibria can be ordered …
Persistent link: https://www.econbiz.de/10009467132