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In a beauty contest experiment with over 6,000 chess players, ranked from amateur to world class, we found that Grandmasters act very similar to other humans. This even holds true when they play exclusively against players of approximately their own strength. In line with psychological research...
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Dictator Game. Previous research has mainly focused on two-player games; the workings of social motives in multiplayer Dictator … Games are less well understood. A core feature of multiplayer games is that players can consider inequalities between others …. Thus, to adequately capture social motives in multiplayer games, models should account for the complexities of the …
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Least-Unmatched Price Auctions have become a popular format of TV and radio shows. Increasingly, they are also applied in internet trading. In these auctions the lowest single (unique) bid wins. We analyze the game-theoretic solution of least unmatched price auctions when prize, bidding cost and...
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This paper describes how to implement and run a game for teaching the principles of money and banking to an undergraduate economics class. The game primarily deals with the market for loanable funds, but numerous extensions are provided to cover topics such as monetary policy, the tools of the...
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