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AN EPISTEMIC RATIONALE FOR ORDER INDEPENDENCE

TROST, MICHAEL - In: International Game Theory Review (IGTR) 16 (2014) 01, pp. 1440002-1

The issue of the order dependence of iterative deletion procedures is well known in the game theory community, and conditions on the dominance concept underlying these procedures have meanwhile been detected which ensure order independence (see, e.g., the criteria of Gilboa et al. (1990) and Apt...

Persistent link: https://www.econbiz.de/10011011333

The Role of Monotonicity in the Epistemic Analysis of Strategic Games

Apt, Krzysztof R.; Zvesper, Jonathan A. - In: Games 1 (2010) 4, pp. 381-394

It is well-known that in finite strategic games true common belief (or common knowledge) of rationality implies that the players will choose only strategies that survive the iterated elimination of strictly dominated strategies. We establish a general theorem that deals with monotonic...

Persistent link: https://www.econbiz.de/10008682971

Axiom of Monotonicity: An Experimental Test

Sharma, Tridib; Vadovic, Radovan - Centro de Investigación Económica (CIE), Departamento … - 2010

The Axiom of Monotonicity (AM) is a necessary condition for a number of expected utility representations, including …

Persistent link: https://www.econbiz.de/10010538933

King Solomon's Dilemma: A Laboratory Study on Implementation

Kagel, John H.; Elbittar, A. Alexander - Econometric Society - 2004

This paper reports an experiment involving two mechanisms that allocate a single unit of an indivisible private good among two players, at no cost to either of them. Both mechanisms, proposed by Moore (1992) and Perry and Reny (1999), are compared in terms of their relative performance to assign...

Persistent link: https://www.econbiz.de/10005699651

Some factors affecting independence movements: an overview.

Gupta, Rupayan - In: Economics of Peace and Security Journal 2 (2007) 2, pp. 101-106

The article outlines a game-theoretic framework that can be used to analyze the nature and outcomes of independence movements in disputed or occupied regions. It is seen that the nature of an independence movement depends on a complex interplay among personal characteristics of movement leaders,...

Persistent link: https://www.econbiz.de/10005700230

On the Economics and Biology of Trust

Fehr, Ernst - Institute for the Study of Labor (IZA) - 2008

In recent years, many social scientists have claimed that trust plays an important role in economic and social transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the identification of the exact role of trust in economic...

Persistent link: https://www.econbiz.de/10005700964

Selection Effects on Trust and Trustworthiness

Slonim, Robert - Econometric Society - 2004

Field and experimental research demonstrate the positive relationship between efficiency and both trust and trustworthiness. Berg, Dickhaut and McCabe (BDM), 1995, first showed the existence and strength of both trust and trustworthiness in a laboratory economic experiment. Building off BDM,...

Persistent link: https://www.econbiz.de/10005702676

Mixed-Strategy Equilibrium Implementation

Vohra, Rajiv; Serrano, Roberto - Econometric Society - 2004

implementation, we identify a strengthening of Bayesian monotonicity, which we refer to as mixed Bayesian monotonicity. It is shown … monotonicity, incentive compatibility and closure. For implementing a social choice function, the case of two-agents is also … equivalent to mixed virtual monotonicity, incentive compatibility and closure. The key condition, mixed virtual monotonicity, is …

Persistent link: https://www.econbiz.de/10005702677

How Opportunity Costs Decrease the Probability of War in an Incomplete Information Game

Polachek, Solomon; Xiang, Jun - Institute for the Study of Labor (IZA) - 2008

This paper shows that the opportunity costs resulting from economic interdependence decrease the equilibrium probability of war in an incomplete information game. This result is strongly consistent with existing empirical analyses of the inverse trade-conflict relationship, but is the opposite...

Persistent link: https://www.econbiz.de/10005703049

Relational Contracts and the Nature of Market Interactions

Brown, Martin; Falk, Armin; Fehr, Ernst - Institute for the Study of Labor (IZA) - 2003

We provide evidence that long-term relationships between trading parties emerge endogenously in the absence of third party enforcement of contracts and are associated with a fundamental change in the nature of market interactions. Without third party enforcement, the vast majority of trades are...

Persistent link: https://www.econbiz.de/10005703546