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This chapter reviews recent experimental data testing game theory and behavioral models that have been inspired to …
Persistent link: https://www.econbiz.de/10014025449
We report an experimental test of alternative rules in innovation contests when success may not be feasible and contestants may learn from each other. Following Halac et al. (forthcoming), the contest designer can vary the prize allocation rule from Winner-Take-All in which the first successful...
Persistent link: https://www.econbiz.de/10012992465
Global games of regime change – coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it – have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We extend...
Persistent link: https://www.econbiz.de/10008665284
This paper uses a laboratory experiment to test the predictions of a dynamic global game designed to capture the self … find that the subjects' actions are overly aggressive relative to the theory's predictions. We further find that the excess …
Persistent link: https://www.econbiz.de/10012729505
We consider an oligopolistic market game, in which the players are competing firm in the same market of a homogeneous consumption good. The consumer side is represented by a fixed demand function. The firms decide how much to produce of a perishable consumption good, and they decide upon a...
Persistent link: https://www.econbiz.de/10014224476
incentive to abstain from expending any effort and instead free-ride on the efforts of other members. Contest theory shows that … relative to the theory. We discuss potential explanations for such over-expenditure, including the utility of winning, bounded … support for the comparative statics predictions of the theory (with the exception of the “group size paradox”). Finally …
Persistent link: https://www.econbiz.de/10013013877
cities to conduct a field experiment with roughly 350 donation appeals. We induce spatial differentiation by varying the …
Persistent link: https://www.econbiz.de/10012105442
We review the theory of information cascades and social learning. Our goal is to describe in a relatively integrated …
Persistent link: https://www.econbiz.de/10013226427
We consider an environment where players are involved in a public goods game and must decide repeatedly whether to make an individual contribution or not. However, players lack strategically relevant information about the game and about the other players in the population. The resulting behavior...
Persistent link: https://www.econbiz.de/10013029484
We derive conditions on the learning environment - which encompasses both Bayesian and non-Bayesian processes - ensuring that an efficient allocation of resources is achievable in a dynamic allocation environment where impatient, privately informed agents arrive over time, and where the designer...
Persistent link: https://www.econbiz.de/10013159388