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Albrecht, James W.; Gautier, Pieter; Vroman, Susan B. - 2009

In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...

Persistent link: https://www.econbiz.de/10011379608

Individual and developmental differences in the relationship of preferences and theory of mind

Leipold, Kristina; Vetter, Nora C.; Dittrich, Marcus; … - 2012

Theory of mind and individual preferences are important determinants in social decision making. The current study … examined in a large sample whether being a cooperative preference type is related with better theory of mind skills …. Furthermore, by testing adolescents and adults, we examined the impact of age on this relation. Theory of mind is measured in a …

Persistent link: https://www.econbiz.de/10009689352

A dynamic model of equilibrium selection in signaling markets

Nöldeke, Georg; Samuelson, Larry - 1996

In his work on market signaling, Spence proposed a dynamic model of a signaling market in which a buyer revises prices in light of experience and sellers choose utility-maximizing signals given these prices. Spence also suggested that subjecting the dynamic process to rare perturbations might...

Persistent link: https://www.econbiz.de/10009697462

Strategic experimentation with private payoffs

Heidhues, Paul; Rady, Sven; Strack, Philipp - 2012

We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...

Persistent link: https://www.econbiz.de/10009658114

Evolution of social networks

Hellmann, Tim; Staudigl, Mathias - 2012

Modeling the evolution of networks is central to our understanding of modern large communication systems, such as theWorld-Wide-Web, as well as economic and social networks. The research on social and economic networks is truly interdisciplinary and the number of modeling strategies and concepts...

Persistent link: https://www.econbiz.de/10009626491

An eye-tracking study of feature-based choice in one-shot games

Devetag, Giovanna; Di Guida, Sibilla; Polonio, Luca - 2013

We analyze subjects' eye movements while they make decisions in a series of one-shot games. The majority of them perform a partial and selective analysis of the payoff matrix, often ignoring the payoffs of the opponent and/or paying attention only to specific cells. Our results suggest that...

Persistent link: https://www.econbiz.de/10009709528

Strategic path reliability in information networks

Kannan, Rajgopal; Sarangi, Sudipta; Iyengar, Sundaraja … - 2002

We consider a model of an information network where nodes can fail and transmission of information is costly. The formation of paths in such networks is modeled as the Nash equilibrium of an N player routing game. The task of obtaining this equilibrium is shown to be NP-Hard. We derive...

Persistent link: https://www.econbiz.de/10011436398

Genetic algorithms and economic evolution

Riechmann, Thomas - 1998

This paper tries to connect the theory of genetic algorithm (GA) learning to evolutionary game theory. It is shown that …

Persistent link: https://www.econbiz.de/10011526540

Contagion and state dependent mutations

Lee, In-ho; Szeidl, Adam; Valentinyi, Ákos - 2001

Early results of evolutionary game theory showed that the risk dominant equilibrium is uniquely selected in the long … result strengthens the equilibrium selection result of evolutionary game theory. …

Persistent link: https://www.econbiz.de/10011545755

Counter intuitive learning : an exploratory study

Hanaki, Nobuyuki; Kirman, Alan P.; Pezanis-Christou, Paul - 2016

The literature on learning in unknown environments emphasises reinforcing on actions which produce positive results. But, in some cases, success requires shifting from a currently successful actions to others. We examine, experimentally and theoretically in a very simple framework, how...

Persistent link: https://www.econbiz.de/10011517970