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play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10010366554
The wage effect of job-education vertical mismatch (i.e. overeducation) has only recently been investigated in the case of Ph.D. holders. The existing contributions rely on OLS estimates that allow measuring the average effect of being mismatched at the mean of the conditional wages...
Persistent link: https://www.econbiz.de/10011798125
Persistent link: https://www.econbiz.de/10012050663
Two subjects have to repeatedly choose between two alternatives, A and B, where payoffs of an A or B-choice depend on the choices made by both players in a number of previous choices. Locally, alternative A gives always more payoff than alternative B. However, in terms of overall payoffs...
Persistent link: https://www.econbiz.de/10011539831
We show that a set of outcomes outside the convex hull of Nash equilibria can be asymptotically stable with respect to convex monotonic evolutionary dynamics. Boundedly rational agents receive signals and condition the choice of strategies on the signals. A set of conditional strategies is...
Persistent link: https://www.econbiz.de/10003782353
Recent laboratory experiments support the popular view that the introduction of corporate leniency programs has significantly decreased cartel activity. The design of these repeated game experiments however is such that engaging in illegal price discussions is the only way for subjects to avoid...
Persistent link: https://www.econbiz.de/10014217339
We propose the minimum approval mechanism (MAM) for a standard linear public good environment with two players. Players simultaneously and privately choose their contributions to the public good in the first stage. In the second stage, they simultaneously decide whether to approve the other's...
Persistent link: https://www.econbiz.de/10009742003
It is commonly assumed that friendship should decrease strategic uncertainty in games involving tacit coordination. However, this has never been tested on two "opposite poles" of coordination, namely, games of strategic complements and substitutes. We present an experimental study having...
Persistent link: https://www.econbiz.de/10011660682
It is commonly assumed that friendship should generally benefit agents' ability to tacitly coordinate with others. However, this has never been tested on two "opposite poles" of coordination, namely, games of strategic complements and substitutes. We present an experimental study in which...
Persistent link: https://www.econbiz.de/10011817934
Friendship is commonly assumed to reduce strategic uncertainty and enhance tacit coordination. However, this assumption has never been tested across two opposite poles of coordination involving either strategic complementarity or substitutability. We had participants interact with friends or...
Persistent link: https://www.econbiz.de/10012215990