Eliciting Strategies in Indefinitely Repeated Games of Strategic Substitutes and Complements

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Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Eliciting Strategies in Indefinitely Repeated Games of Strategic Substitutes and Complements by : Matthew Embrey

Download or read book Eliciting Strategies in Indefinitely Repeated Games of Strategic Substitutes and Complements written by Matthew Embrey and published by . This book was released on 2017 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: We introduce a novel method to elicit strategies in indefinitely repeated games and apply it to games of strategic substitutes and complements. We find that out of 256 possible unit recall machines (and 1024 full strategies) participants could use, only five machines are used more than 5 percent of the time. Those are “static Nash”, “myopic best response”, “Tit-for-Tat” and two “Nash reversion” strategies. We compare outcome data with “hot” treatments and find that the fact that we elicit strategies did not affect the path of play. We also discuss applications to IO literature and compare insights to previous literature on strategy elicitation mostly focused on the prisoner's dilemma.

The Handbook of Behavioral Operations

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Publisher : John Wiley & Sons
ISBN 13 : 1119138310
Total Pages : 631 pages
Book Rating : 4.1/5 (191 download)

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Book Synopsis The Handbook of Behavioral Operations by : Karen Donohue

Download or read book The Handbook of Behavioral Operations written by Karen Donohue and published by John Wiley & Sons. This book was released on 2018-10-16 with total page 631 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of behavioral operations management that puts the focus on new and trending research in the field The Handbook of Behavioral Operations offers a comprehensive resource that fills the gap in the behavioral operations management literature. This vital text highlights best practices in behavioral operations research and identifies the most current research directions and their applications. A volume in the Wiley Series in Operations Research and Management Science, this book contains contributions from an international panel of scholars from a wide variety of backgrounds who are conducting behavioral research. The handbook provides succinct tutorials on common methods used to conduct behavioral research, serves as a resource for current topics in behavioral operations research, and as a guide to the use of new research methods. The authors review the fundamental theories and offer frameworks from a psychological, systems dynamics, and behavioral economic standpoint. They provide a crucial grounding for behavioral operations as well as an entry point for new areas of behavioral research. The handbook also presents a variety of behavioral operations applications that focus on specific areas of study and includes a survey of current and future research needs. This important resource: Contains a summary of the methodological foundations and in-depth treatment of research best practices in behavioral research. Provides a comprehensive review of the research conducted over the past two decades in behavioral operations, including such classic topics as inventory management, supply chain contracting, forecasting, and competitive sourcing. Covers a wide-range of current topics and applications including supply chain risk, responsible and sustainable supply chain, health care operations, culture and trust. Connects existing bodies of behavioral operations literature with related fields, including psychology and economics. Provides a vision for future behavioral research in operations. Written for academicians within the operations management community as well as for behavioral researchers, The Handbook of Behavioral Operations offers a comprehensive resource for the study of how individuals make decisions in an operational context with contributions from experts in the field.

Equilibrium Selection and Strategy

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ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Equilibrium Selection and Strategy by : Tetsuya Kawamura

Download or read book Equilibrium Selection and Strategy written by Tetsuya Kawamura and published by . This book was released on 2019 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We design a transboundary public goods (TPG) game, in which participants have simultaneous interaction within and between groups. We design the TPG game under an infinitely repeated situation in order to explore the types of strategies that participants employ in infinitely repeated games. We theoretically identify a condition in which the grim-trigger strategy is supported as a strategy minimizing strategic risk in the TPG game. We experimentally investigate the types of strategies by eliciting all possible one-period-ahead strategy choices using the strategy method. We replicate the history of the game by simulation and classify the strategies using the affinity propagation clustering method. We find that the frequency of strategies in cooperative clusters is higher in the treatment with high continuation probability than that with low continuation probability. We find that participants employ strategies minimizing strategic risk in an infinitely repeated TPG game.

Mixed Strategies in the Indefinitely Repeated Prisoner's Dilemma

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)

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Book Synopsis Mixed Strategies in the Indefinitely Repeated Prisoner's Dilemma by : Julian Romero

Download or read book Mixed Strategies in the Indefinitely Repeated Prisoner's Dilemma written by Julian Romero and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Experimental Evidence of Trigger Strategies in Repeated Games

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Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Experimental Evidence of Trigger Strategies in Repeated Games by : Ludwig B. Chincarini

Download or read book Experimental Evidence of Trigger Strategies in Repeated Games written by Ludwig B. Chincarini and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the infinitely repeated Prisoner's Dilemma game with complete information, there are two popular Nash Equilibrium strategies. One such strategy is to not cooperate in every period, which is both a Nash Equilibrium in the one-shot game and a subgame-perfect Nash Equilibrium in the repeated game. Another strategy, known as the 'grim trigger strategy', consists of cooperating in the first stage, and in any subsequent stage, k, if the outcome of k-1 preceding stages has been mutual cooperation, then cooperate, otherwise, do not cooperate. Essentially, this leads to never cooperating, once the other player has not cooperated. In a repeated game, but not infinitely repeated game, with a probability, p, of game continuation, there exists a critical p, p{c}, at which this trigger strategy is also a subgame perfect equilibrium (the so-called Folk Theorem). This paper explicitly models such a game and then performs a laboratory experiment with real subjects to understand to what extent the grim trigger strategy is observed in practice. We find that players generally do not adopt trigger strategies for values of p

Cooperation in Experimental Games of Strategic Complements and Substitutes

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis Cooperation in Experimental Games of Strategic Complements and Substitutes by : Jan Potters

Download or read book Cooperation in Experimental Games of Strategic Complements and Substitutes written by Jan Potters and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Global Game with Strategic Substitutes and Complements

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

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Book Synopsis A Global Game with Strategic Substitutes and Complements by : Eric J. Hoffmann

Download or read book A Global Game with Strategic Substitutes and Complements written by Eric J. Hoffmann and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Strategic Commitment and Cooperation in Experimental Games of Strategic Complements and Substitutes

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ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (93 download)

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Book Synopsis Strategic Commitment and Cooperation in Experimental Games of Strategic Complements and Substitutes by : Matthew Embrey

Download or read book Strategic Commitment and Cooperation in Experimental Games of Strategic Complements and Substitutes written by Matthew Embrey and published by . This book was released on 2012 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Repeated Games and Reputations

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Publisher : Oxford University Press
ISBN 13 : 0198041217
Total Pages : 664 pages
Book Rating : 4.1/5 (98 download)

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Book Synopsis Repeated Games and Reputations by : George J. Mailath

Download or read book Repeated Games and Reputations written by George J. Mailath and published by Oxford University Press. This book was released on 2006-09-28 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personalized and continuing relationships play a central role in any society. Economists have built upon the theories of repeated games and reputations to make important advances in understanding such relationships. Repeated Games and Reputations begins with a careful development of the fundamental concepts in these theories, including the notions of a repeated game, strategy, and equilibrium. Mailath and Samuelson then present the classic folk theorem and reputation results for games of perfect and imperfect public monitoring, with the benefit of the modern analytical tools of decomposability and self-generation. They also present more recent developments, including results beyond folk theorems and recent work in games of private monitoring and alternative approaches to reputations. Repeated Games and Reputations synthesizes and unifies the vast body of work in this area, bringing the reader to the research frontier. Detailed arguments and proofs are given throughout, interwoven with examples, discussions of how the theory is to be used in the study of relationships, and economic applications. The book will be useful to those doing basic research in the theory of repeated games and reputations as well as those using these tools in more applied research.

Strategies and Games, second edition

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Publisher : MIT Press
ISBN 13 : 0262368501
Total Pages : 713 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Strategies and Games, second edition by : Prajit K. Dutta

Download or read book Strategies and Games, second edition written by Prajit K. Dutta and published by MIT Press. This book was released on 2022-08-09 with total page 713 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of a widely used introduction to game theory and its applications, with a focus on economics, business, and politics. This widely used introduction to game theory is rigorous but accessible, unique in its balance between the theoretical and the practical, with examples and applications following almost every theory-driven chapter. In recent years, game theory has become an important methodological tool for all fields of social sciences, biology and computer science. This second edition of Strategies and Games not only takes into account new game theoretical concepts and applications such as bargaining and matching, it also provides an array of chapters on game theory applied to the political arena. New examples, case studies, and applications relevant to a wide range of behavioral disciplines are now included. The authors map out alternate pathways through the book for instructors in economics, business, and political science. The book contains four parts: strategic form games, extensive form games, asymmetric information games, and cooperative games and matching. Theoretical topics include dominance solutions, Nash equilibrium, Condorcet paradox, backward induction, subgame perfection, repeated and dynamic games, Bayes-Nash equilibrium, mechanism design, auction theory, signaling, the Shapley value, and stable matchings. Applications and case studies include OPEC, voting, poison pills, Treasury auctions, trade agreements, pork-barrel spending, climate change, bargaining and audience costs, markets for lemons, and school choice. Each chapter includes concept checks and tallies end-of-chapter problems. An appendix offers a thorough discussion of single-agent decision theory, which underpins game theory.

Modeling Strategic Behavior: A Graduate Introduction To Game Theory And Mechanism Design

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Publisher : World Scientific
ISBN 13 : 9813239956
Total Pages : 364 pages
Book Rating : 4.8/5 (132 download)

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Book Synopsis Modeling Strategic Behavior: A Graduate Introduction To Game Theory And Mechanism Design by : George J Mailath

Download or read book Modeling Strategic Behavior: A Graduate Introduction To Game Theory And Mechanism Design written by George J Mailath and published by World Scientific. This book was released on 2018-12-18 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is impossible to understand modern economics without knowledge of the basic tools of gametheory and mechanism design. This book provides a graduate-level introduction to the economic modeling of strategic behavior. The goal is to teach Economics doctoral students the tools of game theory and mechanism design that all economists should know.

The Handbook of Experimental Economics

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Publisher : Princeton University Press
ISBN 13 : 0691213259
Total Pages : 742 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis The Handbook of Experimental Economics by : John H. Kagel

Download or read book The Handbook of Experimental Economics written by John H. Kagel and published by Princeton University Press. This book was released on 2020-05-05 with total page 742 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, which comprises eight chapters, presents a comprehensive critical survey of the results and methods of laboratory experiments in economics. The first chapter provides an introduction to experimental economics as a whole, with the remaining chapters providing surveys by leading practitioners in areas of economics that have seen a concentration of experiments: public goods, coordination problems, bargaining, industrial organization, asset markets, auctions, and individual decision making. The work aims both to help specialists set an agenda for future research and to provide nonspecialists with a critical review of work completed to date. Its focus is on elucidating the role of experimental studies as a progressive research tool so that wherever possible, emphasis is on series of experiments that build on one another. The contributors to the volume--Colin Camerer, Charles A. Holt, John H. Kagel, John O. Ledyard, Jack Ochs, Alvin E. Roth, and Shyam Sunder--adopt a particular methodological point of view: the way to learn how to design and conduct experiments is to consider how good experiments grow organically out of the issues and hypotheses they are designed to investigate.

Twenty Lectures on Algorithmic Game Theory

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Publisher : Cambridge University Press
ISBN 13 : 1316781178
Total Pages : 356 pages
Book Rating : 4.3/5 (167 download)

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Book Synopsis Twenty Lectures on Algorithmic Game Theory by : Tim Roughgarden

Download or read book Twenty Lectures on Algorithmic Game Theory written by Tim Roughgarden and published by Cambridge University Press. This book was released on 2016-08-30 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.

The Art of Strategy: A Game Theorist's Guide to Success in Business and Life

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Publisher : W. W. Norton & Company
ISBN 13 : 9780393069952
Total Pages : 512 pages
Book Rating : 4.0/5 (699 download)

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Book Synopsis The Art of Strategy: A Game Theorist's Guide to Success in Business and Life by : Avinash K. Dixit

Download or read book The Art of Strategy: A Game Theorist's Guide to Success in Business and Life written by Avinash K. Dixit and published by W. W. Norton & Company. This book was released on 2010-01-04 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: “I am hard pressed to think of another book that can match the combination of practical insights and reading enjoyment.”—Steven Levitt Game theory means rigorous strategic thinking. It’s the art of anticipating your opponent’s next moves, knowing full well that your rival is trying to do the same thing to you. Though parts of game theory involve simple common sense, much is counterintuitive, and it can only be mastered by developing a new way of seeing the world. Using a diverse array of rich case studies—from pop culture, TV, movies, sports, politics, and history—the authors show how nearly every business and personal interaction has a game-theory component to it. Mastering game theory will make you more successful in business and life, and this lively book is the key to that mastery.

Game Theory and the Law

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Publisher : Harvard University Press
ISBN 13 : 9780674341111
Total Pages : 348 pages
Book Rating : 4.3/5 (411 download)

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Book Synopsis Game Theory and the Law by : Douglas G. Baird

Download or read book Game Theory and the Law written by Douglas G. Baird and published by Harvard University Press. This book was released on 1994 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to apply the tools of game theory and information economics to advance our understanding of how laws work. Organized around the major solution concepts of game theory, it shows how such well known games as the prisoner's dilemma, the battle of the sexes, beer-quiche, and the Rubinstein bargaining game can illuminate many different kinds of legal problems. Game Theory and the Law highlights the basic mechanisms at work and lays out a natural progression in the sophistication of the game concepts and legal problems considered.

Modeling Bounded Rationality

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Publisher : MIT Press
ISBN 13 : 9780262681001
Total Pages : 226 pages
Book Rating : 4.6/5 (81 download)

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Book Synopsis Modeling Bounded Rationality by : Ariel Rubinstein

Download or read book Modeling Bounded Rationality written by Ariel Rubinstein and published by MIT Press. This book was released on 1998 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion of bounded rationality was initiated in the 1950s by Herbert Simon; only recently has it influenced mainstream economics. In this book, Ariel Rubinstein defines models of bounded rationality as those in which elements of the process of choice are explicitly embedded. The book focuses on the challenges of modeling bounded rationality, rather than on substantial economic implications. In the first part of the book, the author considers the modeling of choice. After discussing some psychological findings, he proceeds to the modeling of procedural rationality, knowledge, memory, the choice of what to know, and group decisions.In the second part, he discusses the fundamental difficulties of modeling bounded rationality in games. He begins with the modeling of a game with procedural rational players and then surveys repeated games with complexity considerations. He ends with a discussion of computability constraints in games. The final chapter includes a critique by Herbert Simon of the author's methodology and the author's response. The Zeuthen Lecture Book series is sponsored by the Institute of Economics at the University of Copenhagen.

Strategy, Predation, and Antitrust Analysis

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Publisher :
ISBN 13 :
Total Pages : 772 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Strategy, Predation, and Antitrust Analysis by : Steven C. Salop

Download or read book Strategy, Predation, and Antitrust Analysis written by Steven C. Salop and published by . This book was released on 1981 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: