Using truels, or three-person duels, as an example, we show that how players perceive a multiple-round game will end can make a big difference in whether it ends non-cooperatively (producing a "bang") or just peters out (producing a "whimper"): 1. If the players view the number of rounds as...

This paper studies competitive equilibria in economies characterized by the presence of asymmetric information (both of the moral hazard and the adverse selection type). We consider economies where non-exclusive contracts (securities) with payoffs dependent on the agents' private information are...

We study the evolution of preference interdependence in aggregative games which are symmetric with respect to material payoffs but asymmetric with respect to player objective functions. Specifically, some players have interdependent preferences (in the sense that they care not only about their...