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The War of Attrition is a classical game theoretic model that was first introduced to mathematically describe certain …
Persistent link: https://www.econbiz.de/10011241590
This paper considers whether game theory can be tested, what difficulties experimenters face in testing it, and what can be learned from attempts to test it. I emphasize that tests of game theory rely on fallible assumptions concerning particular features of the strategic situation and of the...
Persistent link: https://www.econbiz.de/10005462968
Scholars and policymakers have devoted much attention to issues of third party intervention in conflict. The present paper considers a conflict that draws two countervailing outside interveners. As in the realist perspective, the outside parties are drawn to intervene through some economic or...
Persistent link: https://www.econbiz.de/10011109775
The objective of the third edition of <i>Game Theory: A Nontechnical Introduction to the Analysis of Strategy</i> is to introduce the ideas of game theory in a way that is approachable, intuitive, and interdisciplinary. Relying on the Karplus Learning Cycle, the book is intended to teach by example....
Persistent link: https://www.econbiz.de/10011156401
The theory of games (or game theory) is a mathematical theory that deals with the general features of competitive situations. It involves strategic thinking, and studies the way people interact while making economic policies, contesting elections and other such decisions. There are various types...
Persistent link: https://www.econbiz.de/10011166059
We examine the consequences on impairment testing disclosures of auditor-pair choice made by French listed companies where two (joint) auditors are required by law. Managers are likely to manipulate impairment-testing disclosures since it relies on unverifiable fair value estimates (e.g.,...
Persistent link: https://www.econbiz.de/10010820541
In one-shot public goods dilemmas, defection is the strictly dominant strategy. However, agents with cooperative strategies can do well if (1) agents are `translucent' (that is, if agents can fallibly recognize the strategy other agents play ex ante) and (2) an institutional structure allows...
Persistent link: https://www.econbiz.de/10010789347
In this paper social dilemmas are modelled as n-player games. Orthodox game theorists have been able to provide several concepts that narrow the set of expected outcomes in these models. However, in their search for a reduced set of solutions, they had to pay a very high price: they had to make...
Persistent link: https://www.econbiz.de/10004983541
We use game theory and the Santa Fe Artificial Stock Market, an agent-based model of an evolving stock market, to study the properties of strategic Nash equilibria in financial markets. We discover two things: there is a unique strategic equilibrium in the market, and this equilibrium in...
Persistent link: https://www.econbiz.de/10005623644
Game theory is often introduced in undergraduate courses in the context of a prisoner's dilemma paradigm, which illustrates the conflict between social incentives to cooperate and private incentives to defect. We present a very simple card game that efficiently involves a large number of...
Persistent link: https://www.econbiz.de/10005801997