We analyze an entry game with multiple periods. In each period privately informed agents who have not yet joined decide whether to subscribe to a network. Subscribers derive benefits in future periods depending on the network size. We study the case where agents are sufficiently patient and show...

We report results from an experiment that examines play in an indefinitely repeated, two-player Prisoner's Dilemma game. Each experimental session involves N subjects and a sequence of indefinitely repeated games. The main treatment consists of whether agents are matched in fixed pairings or...

In a study of alternating offer bargaining with discounting, perfect equilibrium was found to have little predictive power under the conventional assumption that bargainers' utility is measured by their monetary payoffs. Instead, the authors' data exhibit a first mover advantage, independent of...

This paper analyzes an extension of a model of production and predation due to Grossman (1998) to a multiple community setting. In a multiple community setting, defense expenditures in any one community have the property of a local public good. Such expenditures produce effects on other...

This paper reports findings from an experiment that implements a search-theoretic model of money as a medium of exchange. The question examined is whether subjects learn to adopt the same commodities as media of exchange that the model predicts will be used in equilibrium. We report that...