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Behavioral foundations of reciprocity: experimental economics and evolutionary psychology
, 1998 Laboratory experiments have generally supported the theorem that, in classical property rights environments, noncooperative behavior in markets yields efficient social outcomes.
E. Hoffman, K. McCabe, V. Smith
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Fragile beliefs and the price of uncertainty
, 2010 A representative consumer uses Bayes’ law to learn about parameters of several models and to construct probabilities with which to perform ongoing model averaging.
L. Hansen, T. Sargent
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The Effects of Time Preferences on Cooperation: Experimental Evidence from Infinitely Repeated Games
American Economic Journal: Microeconomics, 2023This paper studies the effects of time preferences on cooperation in an infinitely repeated prisoner’s dilemma game experiment. Subjects play repeated games in the lab, all decisions at once, but stage game payoffs are paid over an extended period of ...
Jeongbin Kim
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American Economic Journal: Microeconomics, 2023
This paper studies optimal bid caps in a multiplayer noisy contest in which a higher bid does not guarantee a sure win. The bid cap can be either rigid or flexible. The former imposes outright bidding restrictions on players’ bids, while the latter taxes
Qiang Fu, Zenan Wu, Yuxuan Zhu
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This paper studies optimal bid caps in a multiplayer noisy contest in which a higher bid does not guarantee a sure win. The bid cap can be either rigid or flexible. The former imposes outright bidding restrictions on players’ bids, while the latter taxes
Qiang Fu, Zenan Wu, Yuxuan Zhu
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The Doors of Perception: Theory and Evidence of Frame-Dependent Rationalizability
American Economic Journal: Microeconomics, 2023We investigate how strategic behavior is affected by the set of notions (frames) used when thinking about the game. In our games the action set consists of visual objects: each player must privately choose one, trying to match the counterpart’s choice ...
G. Charness, Alessandro Sontuoso
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Similarity Nash Equilibria in Statistical Games
American Economic Journal: Microeconomics, 2023A statistical game is a game in which strategic interaction is mediated via a binary outcome y, coupled with a prediction problem where a characteristic x of the game may be used to predict its outcome y based on past values of (x, y) .
Rossella Argenziano, I. Gilboa
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Rational Inattention in the Infield
American Economic Journal: Microeconomics, 2022This paper provides evidence of rational inattention by experienced professionals in strategic interactions. We add rational inattention to a game of matching pennies with state-dependent payoffs.
Vivek Bhattacharya, Greg Howard
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Disclosure and Favoritism in Sequential Elimination Contests
American Economic Journal: Microeconomics, 2022We consider a two-stage contest, in which only a subset of contestants enters the finale. We explore the optimal policy for disclosing contestants’ interim status after the preliminary round, i.e., their interim ranking and elimination decision.
Qiang Fu, Zenan Wu
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Games Played by Teams of Players
American Economic Journal: Microeconomics, 2022We develop a general framework for analyzing games where each player is a team and members of the same team all receive the same payoff. The framework combines noncooperative game theory with collective choice theory, and is developed for both strategic ...
Jeongbin Kim +2 more
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