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for equilibrium payoffs and welfare effects. In this analysis we also distinguishing between coalition groups with and … without side payments. Overall, coalition groups tend to perform well for the members of the coalition group in comparison to … fully decentralized negotiations, particularly if the objectives of the members of the coalition group are not always …
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We consider a co-evolutionary model of social coordination and network formation where agents may decide on an action in a 2x2 - coordination game and on whom to establish costly links to. We find that a payoff dominant convention is selected for a wider parameter range when agents may only...
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The interaction between monetary and fiscal policy and the associated uncertainty about this interaction have been put on center stage by the recent financial crisis and the associated recession. In our model agents learn about both fiscal and monetary policy rules via the Kalman Filter. In...
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relational contracts are repeatedly newly negotiated during relationships. Negotiations take place with positive probability and …
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