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Information sharing and bargaining in buyer-seller networks
Priazhkina, Sofia; Page, Frank H. - 2016
This paper presents a model of strategic buyer-seller networks with information exchange between sellers. Prior to engaging in bargaining with buyers, sellers can share access to buyers for a negotiated transfer. We study how this information exchange affects overall market prices, volumes and...
Persistent link: https://www.econbiz.de/10011576406
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Reading Smith Through the Conceptual Lenses of Game Theory : a Reconstruction of Smith’s Way of Thinking, Inspired by His Lectures on Rhetoric and Languages
Ortmann, Andreas; Walraevens, Benoit - 2023
Game theory is a branch of social sciences that formalizes decision-making in situations where two or more individuals or groups interact, possibly having conflicting interests. In Ortmann & Walraevens (2022) we have reconstructed Smith’s ways of thinking about the social world by analyzing...
Persistent link: https://www.econbiz.de/10014346921
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Optimal Trade Sizing in a Game with Favourable Odds : The Stock Market
Haghani, Victor - 2016
In this short note, we show investors one way to calculate ideal investment sizing by using two rules of thumb based on a simple outline of individual risk aversion. We illustrate these two heuristics, which are not widely appreciated, with thought experiments involving coin flips and ketchup &...
Persistent link: https://www.econbiz.de/10012978604
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Chapter 16 Agent-Based Computational Economics: A Constructive Approach to Economic Theory
Tesfatsion, Leigh - In: Handbook of computational economics : volume 2, …, (pp. 831-880). 2006
Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...
Persistent link: https://www.econbiz.de/10014024389
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Networks and markets: The dynamic impacts of information, matching and transaction costs on trade
Kumagai, Yuki - 2010
The purpose of this paper is to explore strategic incentives to use trade networks rather than markets and shed light on the dynamic relation between the two distinct trading systems: a formal system of markets and a issues in the infinitely repeated multi-player prisoner's dilemma...
Persistent link: https://www.econbiz.de/10010277495
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Institutions as game theory outcomes : towards a cognitive-experimental inquiry
Ambrosino, Angela - In: International journal of management, economics and … 2 (2013) 2, pp. 129-150
This paper investigates two different approaches to the analysis of institutions using game theory and discusses their …, how Schotter and Schelling's approaches to the analysis of economic institutions contribute to develop a proper cognitive … method to investigate institutions as the unplanned outcome of self- interested individual behavior? While the game theory …
Persistent link: https://www.econbiz.de/10009753456
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Institutional endogeneity and third-party punishment in social dilemmas
Marcin, Isabel; Robalo, Pedro; Tausch, Franziska - 2016
This paper studies experimentally how the endogeneity of sanctioning institutions affects the severity of punishment in …
Persistent link: https://www.econbiz.de/10011455952
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The complementarity between trust and contract enforcement
Bartling, Björn; Fehr, Ernst; Huffman, David; Netzer, Nick - 2021 - Revised version
Under weak contract enforcement the trading parties’ trust, defined as their belief in other’s trustworthiness, appears important for realizing gains from trade. In contrast, under strong contract enforcement beliefs about other’s trustworthiness appear less important, suggesting that...
Persistent link: https://www.econbiz.de/10012510645
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Efficient institutions and effective deterrence: on timing and uncertainty of formal sanctions
Buckenmaier, Johannes; Dimant, Eugen; Posten, Ann-Christin - 2021
Economic theory suggests that the deterrence of deviant behavior is driven by a combination of severity and certainty of punishment. This paper presents the first controlled experiment to study a third important factor that has been mainly overlooked: the swiftness of formal sanctions. We...
Persistent link: https://www.econbiz.de/10012438420
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Efficient institutions and effective deterrence : on timing and uncertainty of formal sanctions
Buckenmaier, Johannes; Dimant, Eugen; Posten, Ann-Christin - 2020
Economic theory suggests that the deterrence of deviant behavior is driven by a combination of severity and certainty of punishment. This paper presents the first controlled experiment to study a third important factor that has been mainly overlooked: the swiftness of formal sanctions. We...
Persistent link: https://www.econbiz.de/10012171815