Showing 121 - 130 of 180
This essay describes one economist's view of how Nash's work influenced the development of game theory as a tool for analyzing strategic behavior.
Persistent link: https://www.econbiz.de/10010536371
Most graduating medical students in the United States obtain hospital residencies through the National Resident Matching Program ("NRMP"). The NRMP, or "Match" as it is called, is a centralized procedure that begins each year with hospitals defining residency positions, including a fixed...
Persistent link: https://www.econbiz.de/10010536420
"Hide-and-Seek" games are zero-sum two-person games in which one player wins by matching the other's decision and the other wins by mismatching. Although such games are often played on cultural or geographic "landscapes" that frame decisions non-neutrally, equilibrium ignores such framing. This...
Persistent link: https://www.econbiz.de/10010536429
This paper reports experiments designed to measure strategic sophistication, the extent to which players' behavior reflects attempts to predict others' decisions, taking their incentives into account. Subjects played normal-form games with various patterns of iterated dominance and unique...
Persistent link: https://www.econbiz.de/10010536434
This paper reports experiments that elicit subjects' initial responses to 16 dominance-solvable two-person guessing games. The structure is publicly announced except for varying payoff parameters, to which subjects are given free access, game by game, through an interface that records their...
Persistent link: https://www.econbiz.de/10010536446
This paper reports experiments designed to study strategic sophistication, the extent to which behavior in games reflects attempts to predict others' decisions, taking their incentives into account. We studied subjects' initial responses to normal-form games with various patterns of iterated...
Persistent link: https://www.econbiz.de/10010536450
This paper reconsiders whether cabdrivers' labor supply decisions reflect reference-dependent preferences. Following Botond Koszegi and Matthew Rabin (2006), we construct a model with targets for hours as well as income, both determined by rational expectations. Estimating using Henry S....
Persistent link: https://www.econbiz.de/10010536470
This paper proposes a model of cab drivers' labor supply, building on Henry S. Farber's (2005, 2008) empirical analyses and Botond Koszegi and Matthew Rabin's (2006; henceforth "KR") theory of reference-dependent preferences. Following KR, our model has targets for hours as well as income,...
Persistent link: https://www.econbiz.de/10009246695
Persistent link: https://www.econbiz.de/10010812270
The article provides a survey and exposition of recent developments in dynamic noncooperative game theory and dynamic contract theory. In realistic models of economic relationships, complex long-term agreements may be mutually beneficial; legal enforcement of contracts is difficult or impossible;...
Persistent link: https://www.econbiz.de/10010812285