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We report on experiments examining the value of commitment in Stackelberg games where the follower chooses whether to pay some cost to perfectly observe the leader's action. Várdy (2004) shows that in the unique pure strategy subgame perfect equilibrium of this game, the value of commitment is...
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We study the value of commitment in contests and tournaments when there are costs for the follower to observe the leader's behavior. In a contest, the follower can pay to observe the leader's effort but cannot observe the effectiveness of that effort. In a tournament, the follower can pay to...
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We study a Condorcet jury model where voters are driven both by passion (expressive motives) and by reason (instrumental motives). We show that arbitrarily small amounts of passion significantly affect equilibrium behavior and the optimal size of voting bodies. Increasing the size of voting...
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