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In an information cascade experiment participants are confronted with artificial predecessors predicting in line with …
Persistent link: https://www.econbiz.de/10010343945
the experiment, pairs of subjects competitively extract and consume a renewable resource in continuous time. We find that … experiment thus provides empirical evidence for equilibrium selection in this widely used differential game, as well as evidence …
Persistent link: https://www.econbiz.de/10013034074
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form of a plate of M&Ms. Communication is not allowed in the first experiment, whereas in the second experiment students … may try to influence each other's desired harvest. The third experiment divides the plate to establish individual property …
Persistent link: https://www.econbiz.de/10014069972
experiment, the stock available to each generation depends on the extent of exploitation by previous generations and on resource …
Persistent link: https://www.econbiz.de/10014071285
Persistent link: https://www.econbiz.de/10012602750
the experiment, pairs of subjects competitively extract and consume a renewable resource in continuous time. We find that … experiment thus provides empirical evidence for equilibrium selection in this widely used differential game, as well as evidence …
Persistent link: https://www.econbiz.de/10011183778
Persistent link: https://www.econbiz.de/10011665723
This paper examines a dynamic game of exploitation of a common pool of some renewable asset by agents that sell the result of their exploitation on an oligopolistic market. A Markov Perfect Nash Equilibrium of the game is used to analyze the effects of a merger of a subset of the agents. We...
Persistent link: https://www.econbiz.de/10010434092
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