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reciprocity norm, irrespective of monetary consequences. -- Public good games ; Punishment ; Experiments ; Conditional cooperation …
Persistent link: https://www.econbiz.de/10009579905
emphasis on the use of the techniques of optimal control theory and differential games. The paper is organized as follows … instruments such as repression, redistribution, and gradual democratization. Section 5 reviews models of dynamic games in resource … theory, with focus on R&D races, including efforts to sabotage rivals in order to prevent entry. Section 7 reviews games of …
Persistent link: https://www.econbiz.de/10012033263
study a class of participation games, which differ in the number of players, the success threshold, and the payoff to not …
Persistent link: https://www.econbiz.de/10013362381
Anchoring is one of the most studied and robust behavioral biases, but there is little knowledge about its persistence in strategic settings. This article studies the role of anchoring bias in private-value auctions. We test experimentally two different anchor types. The announcement of a random...
Persistent link: https://www.econbiz.de/10012138992
Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a …
Persistent link: https://www.econbiz.de/10011327822
In a beauty contest experiment with over 6,000 chess players, ranked from amateur to world class, we found that Grandmasters act very similar to other humans. This even holds true when they play exclusively against players of approximately their own strength. In line with psychological research...
Persistent link: https://www.econbiz.de/10003973734
toward the anchor in games where choices are strategic substitutes. …
Persistent link: https://www.econbiz.de/10013191577
In recent academic and to some extent public debates, mainstream economics has been accused of excessive mathematization. The rejection of mathematical and other formal methods is often cited as a crucial trait of Austrian economics. Based on a systematic discussion of potential benefits and...
Persistent link: https://www.econbiz.de/10012598662
We examine the role of cooperative preferences, beliefs, and punishments to uncover potential cross-societal differences in voluntary cooperation. Using one-shot public goods experiments in four comparable subject pools from the US and the UK (two similar Western societies) and Morocco and...
Persistent link: https://www.econbiz.de/10014338895
Media content is an important privately supplied public good. While it has been shown that contributions to a public good crowd out other contributions in many cases, the issue has not been thoroughly studied for media markets yet. We show that in a standard model of commercial media bias,...
Persistent link: https://www.econbiz.de/10014422558