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A Remark on the Number of Trading Posts in Strategic Market Games.

Koutsougeras, L.C. - Center for Operations Research and Econometrics (CORE), … - 1999

In market games the one to one correspondence between commodity types and trading posts would be justified if it were true that the set of equilibria is not affected by the number of trading posts postulated at the ouset of the model. We show that this is not true.

Persistent link: https://www.econbiz.de/10005478962

Information Aggregation and Beliefs inExperimental Parimutuel Betting Markets

Koessler, Frédéric; Noussair, Charles; Ziegelmeyer, … - Max-Planck-Institut für Ökonomik <Jena> - Abteilung … - 2007

We study sequential parimutuel betting markets with asymmetrically informed bettors, usingan experimental approach. In one treatment, groups of eight participants play twenty repetitionsof a sequential betting game. The second treatment is identical, except that bettors are observedby other...

Persistent link: https://www.econbiz.de/10005866873

Trade tariffs and self-enforcing environmental agreements

Eichner, Thomas; Pethig, Rüdiger - 2013

international trade, self-enforcing - or stable - IEAs may comprise up to 60% of all countries (Eichner and Pethig 2013). But these … coalitions are Stackelberg leaders and set tariffs in addition to their cap-and-trade schemes. Surprisingly, these smaller IEAs …

Persistent link: https://www.econbiz.de/10010204680

Trade tariffs and self-enforcing environmental agreements

Eichner, Thomas; Pethig, Rüdiger - 2013

international trade, self-enforcing - or stable - IEAs may comprise up to 60 % of all countries (Eichner and Pethig 2013). But these … coalitions are Stackelberg leaders and set tariffs in addition to their cap-and-trade schemes. Surprisingly, these smaller IEAs …

Persistent link: https://www.econbiz.de/10010213411

Arms races and conflict : experimental evidence

Abbink, Klaus; Dong, Lu; Huang, Lingbo - 2019

beneficial trade decreases the risk of confrontation, but not necessarily the likelihood of costly arms races. …

Persistent link: https://www.econbiz.de/10011975495

Information Advantage and Dominant Strategies in Second-Price Auctions.

Einy, E.; Haimanko, O.; Orzach, R.; Sela, A. - Center for Operations Research and Econometrics (CORE), … - 2000

We study a general model of common-value second-price auctions with differential information. We show that one of the bidders has an inform tion advantage over the other bidders if and only if he possesses dominantstrategy. A dominant strategy is in fact unique and is given by the conditional...

Persistent link: https://www.econbiz.de/10005478966

Alliance Formation in Contests with Incomplete Information

Metzger, Lars P. - Rheinisch-Westfälisches Institut für … - 2015

This paper studies a contest in which players with unobservable types may form an alliance in a pre-stage of the game to join their forces and compete for a prize. We characterize the pure strategy equilibria of this game of incomplete information. We show that if the formation of an alliance is...

Persistent link: https://www.econbiz.de/10011206294

Minimally Complex Exchange Mechanisms: Emergence of Prices, Markets, and Money

Dubey, Pradeep; Sahi, Siddhartha; Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2014

"fairness" and "convenience" then it admits unique prices, in the sense of consistent exchange-rates across commodity pairs ij … directed graphs G in a precise sense. The edges of G can be regarded as markets for commodity pairs, and prices play a stronger … role in that the return to a trader depends only on his own offer and the prices. Finally we consider "strongly" minimal …

Persistent link: https://www.econbiz.de/10010817223

Money as Minimal Complexity

Dubey, Pradeep; Sahi, Siddhartha; Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2015

mechanism has a distinguished commodity -- the money -- that serves as the sole medium of exchange and mediates trade between …

Persistent link: https://www.econbiz.de/10011170531

Are People Willing to Pay to Reduce Others' Incomes?.

Zizzo, D.J.; Oswald, A. - Department of Economics, University of Warwick - 2000

This paper studies utility interdependence in the laboratory. We design an experiment where subjects can reduce ("burn") other subjects' money. Those who burn the money of others have to give up some of their own cash. Despite this cost, and contrary to the assumptions of economics textbooks,...

Persistent link: https://www.econbiz.de/10005583019