Showing 1 - 10 of 1,993
This paper reports results from an experiment studying how fines, leniency programs and reward schemes for whistleblowers affect cartel formation and prices. Antitrust without leniency reduces cartel formation, but increases cartel prices: subjects use costly fines as (altruistic) punishments....
Persistent link: https://www.econbiz.de/10010320343
Until recently, theorists considering the evolution of human cooperation have paid little attention to institutional … punishment, a defining feature of large-scale human societies. Compared to individually-administered punishment, institutional … punishment offers a unique potential advantage: the ability to control how quickly legal rules of punishment evolve relative to …
Persistent link: https://www.econbiz.de/10011709843
cooperation is shaped by the way information about risk is presented (from description or from experience) and by differences in … lotteries with equivalent levels of risk. Cooperation rates in games vary with different levels of risk across decision … stochastic social dilemmas than in the lotteries. The findings highlight how an uncertain environment shapes cooperation and call …
Persistent link: https://www.econbiz.de/10010291829
higher the levels of cooperation. We compare the behavior from these in finitely repeated games with behavior from finitely … repeated games of the same expected length and we find that there is more cooperation in the in finitely repeated games …
Persistent link: https://www.econbiz.de/10010318999
observe surprisingly high levels of cooperation and altruism within groups in conflict situations such as civil wars. We …
Persistent link: https://www.econbiz.de/10010281673
groups but where entrepreneurs have a desire for cooperation and peace. We assert that it is members of the elites who start …
Persistent link: https://www.econbiz.de/10010285564
In this paper we present an overview of methods and components of formal economic models employing evolutionary approaches. This compromises two levels: (1) techniques of evolutionary modelling, including multi-agent modelling, evolutionary algorithms and evolutionary game theory; (2) building...
Persistent link: https://www.econbiz.de/10010277301
In this paper, the authors continue the pursuit of the self-coordination mechanism as studied in the El Farol Bar problem. However, in addition to efficiency (the optimal use of the public facility), they are also interested in the distribution of the public resources among all agents. Hence,...
Persistent link: https://www.econbiz.de/10010311721
This paper introduces two ideas, emotional state dependent utility components (ESDUCs), and evolutionary perfect Bayesian equilibrium (EPBE). Using a simple extensive form game, we illustrate the efficiency-enhancing role of a powerful ESDUC, the vengeance motive. Incorporating behavioral noise...
Persistent link: https://www.econbiz.de/10010315425
The expansion of markets -globalization- was reversed during early 20th century and unfettered markets gave in to the welfare state and central planning. But the markets have been striking back since the early 1980s. Governments are withdrawn from economic activities, and many structural market...
Persistent link: https://www.econbiz.de/10010320492