The recent economic and financial crisis in the euro area seems to question the theoretical solutions to coordinate economic policies in monetary unions. In this paper, we adress the current system of economic policy coordination within the WAEMU during 1994-2010. Using game theory and...

We examine whether the predictions of minimax in zero-sum games holds under highly incentivized conditions with highly informed informed decision makers. We examine data from 3455 National Football League (NFL) games from the 2000 season through the 2012 season. We categorize every relevant play...

We examine a market in which consumers are forced to rely on noisy price signals to select between homogeneous products. The noise originates either from firms' price obfuscation or consumers' bounded information processing capabilities. Standard models and empirical experiments of markets with...

We conduct a laboratory experiment and provide evidence of learning spillovers within and across equivalence classes of “structurally similar” games. These spillovers are inconsistent with existing theories of learning in games.

We present a model of adaptive economic agents who are k periods forward looking. Agents in our model are randomly matched to interact in finitely repeated games. They form beliefs by learning from past behavior of others and then best respond to these beliefs looking k periods ahead. We...

Best-Worst Scaling (BWS) modeling is widely used for finding probabilities of choice among multiple items. The paper considers how to apply BWS data to another problem – of finding the items׳ cannibalization and synergy. For a product of primary interest, we estimate its probability to be...

In this contribution, we investigate the effects of observation-only and observation with feedback from a third-party in a one-shot dictator game (DG). In addition to a baseline condition (DG), a third-party anonymous subject was introduced who either silently observed or observed and got to...

In this paper, we study a buyer׳s configuration of flexibility strategies under supply uncertainty. His main supplier׳s production process is uncertain, and he can either choose pricing flexibility (setting prices depending on the available supply) or operational flexibility (requesting a...

This paper investigates equilibrium strategies for both horizontal (HJP) and vertical (VJP) joint promotions (cooperative advertising) in the supply chain. A game theoretic model is solved for two setups: a centralized channel competing with a decentralized one (DC), and two competing...