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In their majority, public international lawyers postulate that for a new rule of customary law to originate, two conditions must be fulfilled: there must be consistent practice, and it must be shown that this practice is motivated by the belief that such behaviour is required in law. Maurice...
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this paper. They introduce the reader to variations of the Keynesian Beauty Contest (Keynes, The general theory of …
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Beauty Contest (Keynes, The General Theory of Employment, Interest, and Money, 1936), theoretically and experimentally with a …
Persistent link: https://www.econbiz.de/10012120039
We introduce a generalization of the Beauty Contest (BC) game as a framework that incorporates different models from micro- and macroeconomics by formulating their reduced forms as special cases of the BC. Examples include public good games, ultimatum games, Bertrand, Cournot, some auctions,...
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We analyze an experimental public goods game in which group members can endogenously determine whether they want to supplement a standard voluntary contribution mechanism with the possibility of rewarding or punishing other group members. We find a large and positive effect of endogenous...
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