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The evolutionary stability of payoff-maximizing preferences in the model of indirect evolution in symmetric games depends on the slope of the reaction function being zero at equilibrium. The application of this result to contests confirms that in two-player contests the optimal delegation...
Persistent link: https://www.econbiz.de/10003790694
This paper reports experimental tests of two alternative explanations of how players use focal points to select equilibria in one-shot coordination games. Cognitive hierarchy theory explains coordination as the result of common beliefs about players' pre-reflective inclinations towards the...
Persistent link: https://www.econbiz.de/10003790704
During the last three decades the ascent of behavioral economics clearly helped to bring down artificial disciplinary boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice tradition and, indirectly, of behaviorism we...
Persistent link: https://www.econbiz.de/10003809939
This paper considers games in which multiple principals contract simultaneously with the same agent. We introduce a new class of revelation mechanisms that, although it does not always permit a complete equilibrium characterization, it facilitates the characterization of the equilibrium outcomes...
Persistent link: https://www.econbiz.de/10003860805
Persistent link: https://www.econbiz.de/10003863340
We consider the problem of fairly allocating one indivisible object when monetary transfers are possible, and examine the existence of Bayesian incentive compatible mechanisms to solve the problem. We propose a mechanism that satisfies envy-freeness, budget balancedness, and Bayesian incentive...
Persistent link: https://www.econbiz.de/10003819939
This paper provides two conditions of epistemic robustness, robustness to alternative best replies and robustness to non-best replies, and uses them to characterize variants of curb sets in finite games, including the set of rationalizable strategies. -- epistemic game theory ; epistemic...
Persistent link: https://www.econbiz.de/10003823241
In this paper we introduce four new learning models: impulse balance learning, impulse matching learning, action-sampling learning, and payof-sampling learning. With this models and together with the models of self-tuning EWA learning and reinforcement learning, we conduct simulations over 12...
Persistent link: https://www.econbiz.de/10003850391
Conflict parties are frequently involved into more than one conflict at a given time. In this paper the interrelated structure of conflictive relations is modeled as a conflict network where opponents are embedded in a local structure of bilateral conflicts. Conflict parties invest in specific...
Persistent link: https://www.econbiz.de/10003850903
We define generalized extensive-form games which allow for mutual unawareness of actions. We extend Pearce's (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties and prove existence. We define also a new variant of this solution concept, prudent...
Persistent link: https://www.econbiz.de/10003878990