Showing 1 - 10 of 5,940
We study a game in which a sender with verifiable private information has to pay an access fee that is announced by a receiver to be able to convey her message to the receiver. The setting is motivated by the literature of pay-and-lobby politics, which finds that politicians decide to schedule...
Persistent link: https://www.econbiz.de/10010358351
The common prior assumption is pervasive in game-theoretic models with incomplete information. This paper investigates experimentally the importance of inducing a common prior in a two-person signaling game. For a specific probability distribution of the sender's type, the long-run behavior...
Persistent link: https://www.econbiz.de/10010277488
This paper provides two conditions of epistemic robustness, robustness to alternative best replies and robustness to non-best replies, and uses them to characterize variants of curb sets in finite games, including the set of rationalizable strategies.
Persistent link: https://www.econbiz.de/10010281186
Behavioral economics provides several motivations for the common observation that agents appear somewhat unwilling to deviate from recent choices: salience, inertia, the formation of habits, the use of rules of thumb, or the locking in on certain modes of behavior due to learning by doing. This...
Persistent link: https://www.econbiz.de/10010281202
This note reconsiders communication between an informed expert and an uninformed decision maker with a strategic mediator in a discrete Crawford and Sobel (1982) setting. We show that a strategic mediator may improve communication even when he is biased into the same direction as the expert. The...
Persistent link: https://www.econbiz.de/10010281512
The issue of the order-dependence of iterative deletion processes is well-known in the game theory community, and meanwhile conditions on the dominance concept underlying these processes have been detected which ensure order-independence (see e.g. the criteria of Gilboa et al., 1990 and Apt,...
Persistent link: https://www.econbiz.de/10010281613
We report experimental and theoretical results on the minority of three-game where three players have to choose one of two alternatives independently and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies...
Persistent link: https://www.econbiz.de/10010281623
A common feature of the literature on the evolution of preferences is that evolution favors nonmaterialistic preferences only if preference types are observable at least to some degree. We argue that this result is due to the assumption that in each state of the evolutionary dynamics some...
Persistent link: https://www.econbiz.de/10010281643
We demonstrate that one should not expect convergence of the proposals to the subgame perfect Nash equilibrium offer in standard ultimatum games. First, imposing strict experimental control of the behavior of the receiving players and focusing on the behavior of the proposers, we show...
Persistent link: https://www.econbiz.de/10010284129
We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The 'TASP' (Time Average of the Shapley Polygon) gives a precise prediction about what happens when there is divergence from equilibrium under fictitious play like learning processes. We...
Persistent link: https://www.econbiz.de/10010288137