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Registros recuperados: 31 | |
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Merlo, Antonio. |
In this paper we structurally estimate a game-theoretic model of government formation in a multiparty parliamentary democracy. We focus on the timing and the terms of government agreements in the context of a multilateral stochastic model of sequential bargaining with complete information (Merlo and Wilson (1194, 1995)) where efficient delays may occur in the unique equilibrium. Besides showing that our model yields a good fit to the data on the duration of negotiations over government formation as well as government durations in postwar Italy, we use our estimates to quantify the advantage to proposing and to conduct policy experiments to evaluate the effects of changes in the bargaining procedure. We show that the gains from proposing tend to be quite... |
Tipo: Working or Discussion Paper |
Palavras-chave: Noncooperative bargaining; Delay; Government formation; Structural estimation; Duration models.; Political Economy; C41; C51; C73; C78; D72. |
Ano: 1996 |
URL: http://purl.umn.edu/7476 |
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Fosco, Constanza; Mengel, Friederike. |
We develop a simple model to study the coevolution of interaction structures and action choices in Prisoners’ Dilemma games. Agents are boundedly rational and choose both actions and interaction partners via payoff-based imitation. The dynamics of imitation and exclusion yields polymorphic outcomes under a wide range of parameters. Depending on the parameters of the model two scenarios can arise. Either there is “full separation” of defectors and cooperators, i.e. they are found in two different, disconnected components. Or there is “marginalization” of defectors, i.e. connected networks emerge with a center of cooperators and a periphery of defectors. Simulations confirm our analytical results and show that the share of cooperators increases with the... |
Tipo: Working or Discussion Paper |
Palavras-chave: Game Theory; Cooperation; Imitation Learning; Network Formation; Institutional and Behavioral Economics; C70; C73; D85. |
Ano: 2009 |
URL: http://purl.umn.edu/50723 |
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Maldonado, Jorge Higinio; Moreno-Sanchez, Rocio del Pilar. |
Economic Experimental Games (EEGs), focused to analyze dilemmas associated with the use of common pool resources, have shown that individuals make extraction decisions that deviate from the suboptimal Nash equilibrium. However, few studies have analyzed whether these deviations towards the social optimum are affected as the stock of resource changes. Performing EEG with local fishermen, we test the hypothesis that the behavior of participants differs under a situation of abundance versus one of scarcity. Our findings show that under a situation of scarcity, players over-extract a given resource, and thus make decisions above the Nash equilibrium; in doing so, they obtain less profit, mine the others-regarding interest, and exacerbate the tragedy of the... |
Tipo: Working or Discussion Paper |
Palavras-chave: Tragedy of the commons intensified; Economic experimental games; Resource abundance; Resource scarcity; Dynamic effects; Community/Rural/Urban Development; Environmental Economics and Policy; Institutional and Behavioral Economics; Land Economics/Use; Public Economics; D01; D02; D03; O13; O54; Q01; Q22; C93; C72; C73; C23. |
Ano: 2009 |
URL: http://purl.umn.edu/91170 |
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Eiswerth, Mark E.; van Kooten, G. Cornelis; Lines, Jeff M.; Eagle, Alison J.. |
Nonnative invasive species result in sizeable economic damages and expensive control costs. Because dynamic optimization models break down if controls depend in complex ways on past controls, non-uniform or scale-dependent spatial attributes, etc., decision support systems that allow learning may be preferred. We compare three models of an invasive weed in California’s grazing lands: (1) a stochastic dynamic programming model, (2) a reinforcement-based, experience-weighted attraction (EWA) learning model, and (3) an EWA model that also includes stochastic forage growth and penalties for repeated application of environmentally harmful control techniques. Results indicate that EWA learning models may be appropriate for invasive species management. |
Tipo: Working or Discussion Paper |
Palavras-chave: Invasive weed species; Optimal control; Adaptive management; Environmental Economics and Policy; C73; Q57. |
Ano: 2005 |
URL: http://purl.umn.edu/37015 |
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Taub, Bart. |
A firm monopsonistically hires labor from a pool containing both skilled and unskilled workers. The marginal value of a worker depends on the match between the job and the worker's skill level. Unskilled workers can have negative productivity if they are placed in a skilled job. The firm cannot distinguish the two types. The workers are initially dispersed and search for the high wage jobs from the firm. The workers' skill levels are correlated with their patience; equivalently, they obtain indirect benefits, such as non-firm-specific career capital, from jobs that use their skill appropriately. By judiciously choosing different wages for different types of jobs, the firm can partially filter the appropriate worker types and match them with the appropriate... |
Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital; C73; D83; E24; J64. |
Ano: 2001 |
URL: http://purl.umn.edu/26256 |
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Petrick, Martin. |
The article contributes to the understanding of neo-endogenous rural development policies from the perspective of evolutionary game theory. Rural development is modelled as the increasing realisation over time of gains from interaction by rural stakeholders. The model exhibits two dynamically stable equilibria, which depict declining and prospering regions. Neo-endogenous policies are interpreted as stimuli emerging from an external government authority which help decentralised actors to coordinate on the superior of the two equilibria. External intervention may thus be possible and desirable without giving up the autonomy of local decision makers. However, because initial conditions matter, outcomes cannot be planned or engineered from the outside. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Rural governance; Neo-endogenous policies; Evolutionary game theory; Collective action.; Community/Rural/Urban Development; C73; R23; R58. |
Ano: 2011 |
URL: http://purl.umn.edu/114764 |
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Petrick, Martin. |
The article contributes to the understanding of neo-endogenous rural development policies from the perspective of evolutionary game theory. Rural development is modelled as the increasing realisation over time of gains from interaction by rural stakeholders. The model exhibits two dynamically stable equilibria, which depict declining and prospering regions. Neo-endogenous policies are interpreted as stimuli emerging from an external government authority which help decentralised actors to coordinate on the superior of the two equilibria. External intervention may thus be possible and desirable without giving up the autonomy of local decision makers. However, because initial conditions matter, outcomes cannot be planned or engineered from the outside. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Rural governance; Neo-endogenous policies; Evolutionary game theory; Collective action; Community/Rural/Urban Development; C73; R23; R58. |
Ano: 2010 |
URL: http://purl.umn.edu/94897 |
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Albano, Gian Luigi; Cesi, Berardino. |
When procurement contracts are awarded through competitive tendering participating firms commit ex ante to fulfil a set of contractual duties. However, selected contractors may find profitable to renege ex post on their promises by opportunistically delivering lower quality standards. In order to deter ex post moral hazard, buyers may use different strategies depending on the extent to which quality dimensions are contractible, that is, verifiable by contracting parties and by courts. We consider a stylized repeated procurement framework in which a buyer awards a contract over time to two firms with different efficiency levels. If the contractor does not deliver the agreed level of performance the buyer may handicap the same firm in future competitive... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Repeated Procurement; Handicapping; Relational Contracts; Stick and Carrot Strategy; Political Economy; C73; D82; D44; H57; K12; L14. |
Ano: 2008 |
URL: http://purl.umn.edu/6370 |
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Registros recuperados: 31 | |
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