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Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).
Persistent link: https://www.econbiz.de/10014024384
We expand upon the previous models of inequity aversion of Fehr and Schmidt [1], and Frohlich et al. [2], which assume that dictators get disutility if the final allocation of surplus deviates from the equal split (egalitarian principle) or from the subjects' production (libertarian principle)....
Persistent link: https://www.econbiz.de/10009754116
Under three different rules for allocation of initial income we elicit experimental subjects' preferences for income redistribution using an incentive compatible elicitation mechanism. The three income allocation rules are designed to capture preferences for distributive justice among subjects....
Persistent link: https://www.econbiz.de/10014141304
The EU imposed an embargo on Iranian oil on 23 January, 2012 that will come into full force in July, preventing the members from importing Iranian oil. The embargo was enforced by the UN, EU, USA and other countries in the wake of Western pressure policies. This multiplies sanctions imposed on...
Persistent link: https://www.econbiz.de/10014169879
In two-person generosity games the proposer's agreement payoff is exogenously given whereas that of the responder is endogenously determined by the proposer's choice of the pie size. Earlier results for two-person generosity games show that participants seem to care more for efficiency than for...
Persistent link: https://www.econbiz.de/10003952438
In the Solidarity Game (Selten and Ockenfels, 1998) lucky winners of a lottery can transfer part of their income to unlucky losers. Will losers get smaller transfers if they can be assumed to be (partly) responsible for their zero income because they have chosen riskier lotteries (Trhal and...
Persistent link: https://www.econbiz.de/10009406716
Standard equilibrium concepts in game theory find it difficult to explain the empirical evidence from a large number of static games, including the prisoner's dilemma game, the hawk-dove game, voting games, public goods games and oligopoly games. Under uncertainty about what others will do in...
Persistent link: https://www.econbiz.de/10011384070
We explore the interaction between fairness attitudes and reference dependence both theoretically and experimentally. Our theory of fairness behavior under reference-dependent preferences in the context of ultimatum games, defines fairness in the utility domain and not in the domain of dollar...
Persistent link: https://www.econbiz.de/10010190129
We experimentally investigate whether individuals can reliably detect cooperators in an anonymous decision environment by allowing participants to condition their choices in an asymmetric prisoner's dilemma and a trust game (i) on their partner's donation share to a self-selected charity, and...
Persistent link: https://www.econbiz.de/10005247883
This paper revisits and extends the experiment on the solidarity game by Selten and Ockenfels (1998). We replicate the basic design of the solidarity game and extend it in order to test the robustness of the 'fixed total sacrifice' effect and the applied strategy method. Our results only...
Persistent link: https://www.econbiz.de/10005765385