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In this paper, I study the wage a firm sets to attract high abilityworkers (hipo's) in situationsof unemployment. I show that the higher unemployment, the larger afirm's incentives to sorthigh and low ability workers. Moreover, workers will signal their(high) ability in situationsof (high)...
Persistent link: https://www.econbiz.de/10011303310
In this paper I study conditions for the emergence of cooperativebehavior in a dynamic model of population interaction.The model has finitely many individuals located on a circle. The pay-off of each individual is partly based on the (local)interaction with neighbors and partly on (uniform)...
Persistent link: https://www.econbiz.de/10011303319
Different variations of a Principle of Coordination are used in anumber ofdifferent research traditions. Roughly speaking, one version of thePrinciple says thatif there is a unique Pareto-efficient outcome in a game, then playerswill choose theirpart of that outcome. In this paper I will...
Persistent link: https://www.econbiz.de/10011303321
This paper develops an economic argument relating auctions to high marketprices. At the core of the argument is the claim that market competition andbidding in an auction should be analyzed as part of one game, where the pricingstrategies in the market subgame depend on the bidding strategies...
Persistent link: https://www.econbiz.de/10011333269
This paper argues that the notion of focal points is important in understanding bargaining processes. Recent literature confines a discussion of the usefulness of the notion to coordination problems and when bargaining experiments result in outcomes that are inconsistent with a straightforward...
Persistent link: https://www.econbiz.de/10011349211
This paper gives an overview of the literature on focal points. It starts with reviewing Schelling’s seminalbook The Strategy of Conflict.I then discuss the problems that have to be faced when incorporating thenotion of focal points in theory of games. Two recent approaches are discussed that...
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