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We study participation games with negative feedback, i.e. games where players choose either to participate in a certain project or not and where the payoff for participating decreases in the number of participating players. We use the replicator dynamics to model the competition between...
Persistent link: https://www.econbiz.de/10011349183
In a coordination game such as the Battle of the Sexes, agents can condition their plays on external signals that can, in theory, lead to a Correlated Equilibrium that can improve the overall payoffs of the agents. Here we explore whether boundedly rational, adaptive agents can learn to...
Persistent link: https://www.econbiz.de/10011515836
We propose a simple model for why we have more trust in people who cooperate without calculating the associated costs. Intuitively, by not looking at the payoffs, people indicate that they will not be swayed by high temptations to defect, which makes them more attractive as interaction partners....
Persistent link: https://www.econbiz.de/10011383783
We introduce a framework to analyze the interaction of boundedly rational heterogeneous agents repeatedly playing a participation game with negative feedback. We assume that agents use different behavioral rules prescribing how to play the game conditionally on the outcome of previous rounds. We...
Persistent link: https://www.econbiz.de/10008729061
Population games describe strategic interactions among large numbers of small, anonymous agents. Behavior in these games is typically modeled dynamically, with agents occasionally receiving opportunities to switch strategies, basing their choices on simple myopic rules called revision protocols...
Persistent link: https://www.econbiz.de/10014025446
We choose between alternatives without being fully informed about the rewards from different courses of action. In making our decisions, we use our own past experience and the experience of others. So the ways in which we interact - our social network - can influence our choices. These choices...
Persistent link: https://www.econbiz.de/10014025688
In the recent years, many clubs in the biggest European soccer leagues have run into debts. The sports economic literature provides several explanation for this development, e.g., the league structure (open versus closed league), club constitutions, ruinous rat races between clubs. While the...
Persistent link: https://www.econbiz.de/10013118880
Persistent link: https://www.econbiz.de/10009154896
Motivated by trying to better understand the norms that govern pedestrian traffic, I study symmetric two-player coordination games with independent private values. The strategies of "always pass on the left" and "always pass on the right" are always equilibria of this game. Some such games,...
Persistent link: https://www.econbiz.de/10010239911
Second price allpay auctions (wars of attritions) have an evolutionarily stable equilibrium in pure strategies if valuations are private information. I show that for any level of uncertainty there exists a pure deviation strategy close to the equilibrium strategy such that for some valuations...
Persistent link: https://www.econbiz.de/10009748253