We extend the consistency principle for strategic games (Peleg and Tijs (1996)) to apply to solutions which assign to each game a collection of product sets of strategies. Such solutions turn out to satisfy desirable properties that solutions assigning to each game a collection of strategy...

Leniency clauses, offering cartelists legal immunity if they blow the whistle on each other, is a recent anti-trust innovation. The authorities wish to thwart cartels and promote competition. This effect is not evident, however; whistle-blowing may enforce trust and collusion by providing a tool...

Purpose – How can laboratory experiments help us understand banking crises, including the usefulness of various policy responses? After giving a concise introduction to the field of experimental economics more generally, the author attempts to provide answers. The paper aims to discuss this...

Psychological game theory can provide rational-choice-based framing effects; frames influence beliefs, beliefs influence motivations. We explain this theoretically and explore empirical relevance experimentally. In a 2x2 design of one-shot public good games we show that frames affect subject’s...