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End behavior of the threshold protocol game on complete and bipartite graphs
Fedrigo, Alexandra - In: Games 15 (2024) 6, pp. 1-16
graphs. Many generalizations are proposed and applied. This work explores the impact of graph topology on the outcome of the … threshold protocol game and consequently considers finite graphs. By exploiting the well-known topologies of complete and … complete bipartite graphs, the outcome of the threshold protocol game can be fully characterized on these graphs. These …
Persistent link: https://www.econbiz.de/10015271462
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Coordination problems triggered by sunspots in the laboratory
Siebert, Jan; Yang, Guanzhong - 2020
A sunspot variable is any random variable that is not related to fundamental factors of the economy but a potential coordination device. The coordination power of sunspots has been analysed in theory and in experiments. However, some have discussed whether sunspots, e.g., public announcements...
Persistent link: https://www.econbiz.de/10012234811
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Expectations Traps and Coordination Failures with Discretionary Policymaking
Dennis, Richard; Kirsanova, Tatiana - College of Business and Economics, Australian National … - 2013
Discretionary policymakers cannot manage private-sector expectations and cannot coordinate the actions of future policymakers. As a consequence, expectations traps and coordination failures can occur and multiple equilibria can arise. To utilize the explanatory power of models with multiple...
Persistent link: https://www.econbiz.de/10011107157
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Social coordination with locally observable types
Bilancini, Ennio; Boncinelli, Leonardo - Dipartimento di Economia "Marco Biagi", Università … - 2014
In this paper we study the typical dilemma of social coordination between a risk- dominant convention and a payoff-dominant convention. In particular, we consider a model where a population of agents play a coordination game over time, choosing both the action and the network of agents with whom...
Persistent link: https://www.econbiz.de/10011262780
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Expectations Traps and Coordination Failures with Discretionary Policymaking
Dennis, Richard; Kirsanova, Tatiana - Department of Economics, Adam Smith Business School - 2013
Discretionary policymakers cannot manage private-sector expectations and cannot coordinate the actions of future policymakers. As a consequence, expectations traps and coordination failures can occur and multiple equilibria can arise. To utilize the explanatory power of models with multiple...
Persistent link: https://www.econbiz.de/10010896982
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Equilibria in a Dynamic Global Game: The Role of Cohort Effects
Heidhues, Paul; Melissas, Nicolas - C.E.P.R. Discussion Papers - 2005
We introduce strategic waiting in a global game setting with irreversible investment. Players can wait in order to make a better informed decision. We allow for cohort effects and discuss when they arise endogenously in technology adoption problems with positive contemporaneous network effects....
Persistent link: https://www.econbiz.de/10005666707
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Child Labor and Coordination Failures
Dessy, Sylvain; Pallage, Stephane - Centre de Recherche sur l'Emploi et les Fluctuations … - 2000
In this paper, we show how coordination failures may explain the prevalence of child labor in developing countries. We do so within a simple game-theoretic setup. Child labor arises in our environment because of the lack of a coordination mechanism between parental decisions to invest in the...
Persistent link: https://www.econbiz.de/10005611956
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A Quantal Response Equilibrium Model of Order Statistic Games
Yi, Kang-Oh - Department of Economics, University of California-San … - 1999
This paper applies quantal response equilibrium (QRE) models (McKelvey and Palfrey, Games and Economic Behavior 10 (1995), 6-38) to a wide class of symmetric coordination games in which each player's best response is determined by an order statistic of all players' decisions, as in the classic...
Persistent link: https://www.econbiz.de/10010536504
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When Does a Platform Create Value by Limiting Choice?
Casadesus-Masanell, Ramon; Halaburda, Hanna - NET Institute - 2010
We present a theory for why it might be rational for a platform to limit the number of applications available on it. Our model is based on the observation that even if users prefer application variety, applications often also exhibit direct network effects. When there are direct network effects,...
Persistent link: https://www.econbiz.de/10008673512
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Expectations Traps and Coordination Failures with Discretionary Policymaking
Dennis, Richard; Kirsanova, Tatiana - Scottish Institute for Research in Economics (SIRE) - 2013
Discretionary policymakers cannot manage private-sector expectations and cannot coordinate the actions of future policymakers. As a consequence, expectations traps and coordination failures can occur and multiple equilibria can arise. To utilize the explanatory power of models with multiple...
Persistent link: https://www.econbiz.de/10010722649