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A Model of Expertise
Krishna, Vijay; Morgan, John - 2000
We study a model in which two perfectly informed experts offer advice to a decision maker whose actions affect the … welfare of all. Experts are biased and thus may wish to pull the decision maker in different directions and to different … maker. We ask whether this situation is improved by having the decision maker consult a cabinet of (two) experts. We first …
Persistent link: https://www.econbiz.de/10014200999
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Timing of Messages and the Aumann Conjecture: A multiple-Selves Approach
Zultan, Roi - Economics Department, Ben Gurion University of the Negev - 2011
The Aumann (1990) conjecture states that cheap-talk messages do not necessarily help to coordinate on efficient Nash equilibria. In an experimental test of Aumann’s conjecture, Charness (2000) found that cheap-talk messages facilitate coordination when they precede the action, but not when...
Persistent link: https://www.econbiz.de/10009386360
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Behavioral variation in Tullock contests
Masiliunas, Aidas; Mengel, Friederike; Reiss, J. Philipp - 2014
We conduct an experiment to uncover the reasons behind the typically large behavioral variation and low explanatory power of Nash equilibrium observed in Tullock contests. In our standard contest treatment, only 7% of choices are consistent with Nash equilibrium which is in line with the...
Persistent link: https://www.econbiz.de/10010332613
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An equilibrium analysis of the Arad-Rubinstein game
Ewerhart, Christian; Kaźmierowski, Stanisław - 2024
Colonel Blotto games with discrete strategy spaces effectively illustrate the intricate nature of multidimensional strategic reasoning. This paper studies the equilibrium set of such games where, in line with prior experimental work, the tie-breaking rule is allowed to be flexible. We begin by...
Persistent link: https://www.econbiz.de/10014512633
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Does Information Matter? Some Experimental Evidence from a Common-Pool Resource Game
Apesteguia, Jose - 2001
This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups played the same game but with no information about the...
Persistent link: https://www.econbiz.de/10010317639
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On the role of non-equilibrium focal points as coordination devices
Bosch-Domènech, Antoni; Vriend, Nicolaas J. - 2008
Considering a pure coordination game with a large number of equivalent equilibria, we argue, first, that a focal point that is itself not a Nash equilibrium and is Pareto dominated by all Nash equilibria, may attract the players' choices. Second, we argue that such a non-equilibrium focal point...
Persistent link: https://www.econbiz.de/10010284116
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(Anti-) coordination in networks
Kovářík, Jaromír; Mengel, Friederike; Romero, J. Gabriel - 2010
We study (anti-) coordination problems in networks in a laboratory experiment. Partici- pants interact with their neighbours in a fixed network to play a bilateral (anti-) coordination game. Our main treatment variable is the extent to which players are heterogeneous in the number of connections...
Persistent link: https://www.econbiz.de/10008728743
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Feature-based choice and similarity in normal-form games : an experimental study
Devetag, Giovanna; Di Guida, Sibilla - 2010
In this paper we test the effect of descriptive "features" on initial strategic behavior in normal form games, where "descriptive" are all those features that can be modified without altering the (Nash) equilibrium structure of a game. We observe that our experimental subjects behave according...
Persistent link: https://www.econbiz.de/10008729032
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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
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Behavioral variation in Tullock contests
Masiliunas, Aidas; Mengel, Friederike; Reiß, J. Philipp - 2014
We conduct an experiment to uncover the reasons behind the typically large behavioral variation and low explanatory power of Nash equilibrium observed in Tullock contests. In our standard contest treatment, only 7% of choices are consistent with Nash equilibrium which is in line with the...
Persistent link: https://www.econbiz.de/10010233103