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benefit function is linear or strictly concave. Finally we study implied stability relations. We find that if any non …
Persistent link: https://www.econbiz.de/10011190116
generally has a wide multiplicity of equilibria that we refine through stochastic stability. We show that, depending on how we …
Persistent link: https://www.econbiz.de/10010577244
This paper presents a model in which players interact via the formation of costly links and the benefits of bilateral interactions are determined by a coordination game. A novel contribution of this paper is that the fraction of the cost borne by each player involved in a bilateral link is not...
Persistent link: https://www.econbiz.de/10005515886
a logit specification of choice probabilities, we find that the stability of a core allocation decreases in the wealth …
Persistent link: https://www.econbiz.de/10011111822
This paper considers marriage problems, roommate problems with nonempty core, and college admissions problems with responsive preferences. All stochastically stable matchings are shown to be contained in the set of matchings which are most robust to one-shot deviation.
Persistent link: https://www.econbiz.de/10011263593
We apply stochastic stability to study the evolution of bidding behaviour in private-value second-price, first …
Persistent link: https://www.econbiz.de/10005611897
This study considers pure coordination games on networks and the waiting time for an adaptive process of strategic change to achieve efficient coordination. Although it is in the interest of every player to coordinate on a single globally efficient norm, coalitional behavior at a local level can...
Persistent link: https://www.econbiz.de/10011188072
We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different...
Persistent link: https://www.econbiz.de/10010270576
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....
Persistent link: https://www.econbiz.de/10010333735
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....
Persistent link: https://www.econbiz.de/10011422119