The paper presents the concept of an imitation equilibrium and explores it in the context of some simple oligopoly models. The concept applies to normal form games enriched by a reference structure specifying a reference group for every player. The reference group is a set of other players, whom...

We report an experiment that uses the strategy method (Selten 1967) to elicit subjects' general strategy for playing any 2-person 3x3-game with integer payoffs between 0 and 99. Each two subjects' strategies play 500000 games in each of the 5 tournaments. For games with pure strategy equilibria...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

Does probation pay a double dividend? Society saves the cost of incarceration, and convicts preserve their liberty. But does probation also reduce the risk of recidivism? In a meta-study we show that the field evidence is inconclusive. Moreover it struggles with an identification problem: those...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

Does probation pay a double dividend? Society saves the cost of incarceration, and convicts preserve their liberty. But does probation also reduce the risk of recidivism? In a meta-study we show that the field evidence is inconclusive. Moreover it struggles with an identification problem: those...

Experimentally observed deviations of behavior from game theoretic predictions suggest that fairness does influence decision making. Fairness in the sense of equality has become an essential element of economic models aiming at explaining actual behavior (cf. Fehr and Schmidt, 1999; Bolton and...

Using the strategy method (Selten 1967) we elicit subjects' strategies for playing any 2-person 3x3-game with integer payoffs between 0 and 99.In each of 5 tournaments, every strategy pair plays 500000 games.The frequency of pure strategy equilibrium play increases from 51% in the first to 74%...

The paper presents the concept of an "imitation equilibrium" and explores it in the context of some simple oligopoly models. The concept applies to normal form games enriched by a "reference structure" specifying a "reference group" for every player. The reference group is a set of other...

We report an experiment that uses the strategy method (Selten 1967) to elicit subjects' general strategy for playing any 2-person 3x3-game with integer payoffs between 0 and 99. Each two subjects' strategies play 500000 games in each of the 5 tournaments. For games with pure strategy equilibria...