We examine speculative attacks in a controlled laboratory environment featuring continuous time, size asymmetries, and varying amounts of public information. Attacks succeeded in 233 of 344 possible cases. When speculators have symmetric size and access to information: (a) weaker fundamentals...

Intelligence and personality significantly affect social outcomes of individuals. We study how and why these traits affect the outcome of groups, looking specifically at how these characteristics operate in repeated interactions providing opportunity for profitable cooperation. Our experimental...

We examine the impact of behavioral noise on equilibrium selection in a hawk-dove game with a model that linearly interpolates between the one- and two-population structures in an evolutionary context. Perturbed best response dynamics generates two hypotheses in addition to the bifurcation...

When subjects interact in continuous time, their ability to cooperate may dramatically increase. In an experiment, we study the impact of different time horizons on cooperation in (quasi) continuous time prisoner's dilemmas. We find that cooperation levels are similar or higher when the horizon...

This paper reports results from a laboratory experiment studying the role of asymmetries, both in payoffs and recognition probabilities, in a model of strategic bargaining with Condorcet cycles. Overall, we find only limited support for the equilibrium predictions. The main deviations from...

This paper experimentally examines the selection of equilibria in dynamic games. Our baseline treatment is a two-state extension of an indefinitely repeated prisoner’s dilemma, which we modify in series of treatments to study the focality of efficiency and symmetry, the effect dynamic and...

We study the interplay of inequality and trust in a dynamic game, in which trust increases efficiency and thus allows higher growth of the experimental economy in the future. We find that trust is initially high in a treatment starting with equal endowments, but decreases over time. In a...

Human players in our laboratory experiment received flow payoffs over 120 seconds each period from a standard Hawk-Dove bimatrix game played in continuous time. Play converged closely to the symmetric mixed Nash equilibrium under a one-population matching protocol. When the same players were...

This paper uses a laboratory experiment to study the effect of a monitoring structure on the play of the infinitely repeated prisoner's dilemma. Keeping the stage game fixed, we examine the behavior of subjects when information about past actions is perfect (perfect monitoring), noisy but public...

We experimentally study decision-making in a novel dynamic coordination game. The game captures features of a transition between externality networks. Groups consisting of three subjects start in a stable benchmark equilibrium with network externality. Over seven rounds, they can transit to an...