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Inefficiency in private value bargaining with naive players : an experimental study

Possajennikov, Alexandre; Saran, Rene - 2018

The paper reports on an experiment on two-player double-auction bargaining with private values. We consider a setting … no equilibrium achieving full efficiency. In the experiment, we vary the proportion of naive traders by introducing … computerized players. We find that full efficiency is not achieved in the experiment with or without naive traders, and efficiency …

Persistent link: https://www.econbiz.de/10011852503

The trust broker game : a three-player trust game with probabilistic returns and information asymmetry

Tagat, Anirudh; Kapoor, Hansika - 2017

This paper experimentally investigates trust and trustworthiness in a repeated and sequential three-player trust game with probabilistic returns and information asymmetry. It adds to the existing literature by combining experimental features from recent work in the trust game. The authors use...

Persistent link: https://www.econbiz.de/10011664904

Can communication mitigate strategic delays in investment timing?

Mermer, Ayse; Onderstal, Sander; Sonnemans, Joep - 2023

In economic environments, decision-makers can strategically delay irreversible investments to learn from the actions of others. This creates free-riding incentives and can lead to socially suboptimal outcomes. We experimentally examine if and how communication mitigates this free-riding problem...

Persistent link: https://www.econbiz.de/10014299600

Settlement under the threat of conflict : the cost of asymmetric information

Sjöberg, Eric - 2014

I study a situation where two players disagree on the division of a good. In the first of two stages, the players can divide the good peacefully between them by signing a contract. If either or both players reject the contract, they must engage in a costly contest over the good. One of the...

Persistent link: https://www.econbiz.de/10010337007

Who cares when value (mis)reporting may be found out? : an acquiring-a-company experiment with value messages and information leaks

Di Cagno, Daniela; Güth, Werner; Lohse, Tim; Marazzi, … - 2023

We modify the Acquiring-a-Company game to study lying in ultimatum bargaining. Privately informed sellers send messages about the alleged value of their company to potential buyers. Via random information leaks, buyers can learn the true value before proposing a price which the seller finally...

Persistent link: https://www.econbiz.de/10014265847

Asymmetric information in simple bargaining games : an experimental study

Klempt, Charlotte; Pull, Kerstin; Stadler, Manfred - 2017

Bilateral bargaining situations are often characterized by informational asymmetries concerning the size of what is at stake: in some cases, the proposer is better informed, in others, it is the responder. We analyze the effects of both types of asymmetric information on proposer behavior in two...

Persistent link: https://www.econbiz.de/10011623050

Bargaining with Voluntary Transmission of Private Information : An Experimental Analysis of Final Offer Arbitration

Pecorino, Paul - 2020

In Final Offer Arbitration, both parties submit a proposal to an arbitrator. In the event the parties cannot reach a negotiated settlement, the arbitrator chooses the submitted proposal that is closest to her preferred settlement. In such a model, asymmetric information can lead to costly...

Persistent link: https://www.econbiz.de/10012830040

A Simple Bargaining Mechanism that Elicits Truthful Reservation Prices

Brams, Steven J.; Kaplan, Todd R.; Kilgour, D. Marc - 2012

We describe a simple 2-stage mechanism whereby for two bargainers, a Buyer and a Seller, it is a weakly dominant strategy to report their reservation prices in the 1st stage. If the Buyer reports a higher price than the Seller, then the referee announces that there is the possibility for trade,...

Persistent link: https://www.econbiz.de/10014043989

Strategic communication : an experimental investigation

Eckartz, Katharina Marie; Ehses-Friedrich, Christiane - 2014

knowledge public knowledge. The experiment replicates the results of earlier experimental studies (Dickhaut et al., 1995, Cai …

Persistent link: https://www.econbiz.de/10010260085

Mechanisms for efficient voting with private information about preferences

Engelmann, Dirk; Grimm, Veronika - 2008

We experimentally study behavior in a simple voting game where players have private information about their preferences. With random matching, subjects overwhelmingly follow the dominant strategy to exaggerate their preferences, which leads to inefficiency. We analyze an exogenous linking...

Persistent link: https://www.econbiz.de/10003894591

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