786,579 research outputs found

    To Work or Not? Simulating Inspection Game with Labor Unions

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    The model of social network is used to analyze the impact of the power of labor unions in the labor relations. We find that labor union capable to affect a pecuniary compensation of shirking employees lessens the motivation of employees to work and improve to the unionization rate. As a result, the performance of the firm is significantly deteriorated and its existence endangered. On the other hand, the inspection proved to be a successful method for “motivating” employees to work. By using non-omniscient agents, we also estimated the cost of that non-omniscience, which proved to be significant in all cases.social networks, inspection game, evolutionary games

    To trust or not to trust: cognitive reflection in trust game

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    We present results from two studies that show a positive relation between cognitive reflection and trusting behavior, but no significant relation with trustworthy behavior. Our finding holds regardless of individual distributional social preferences and risk aversion. Our results add to a growing body of literature that illustrates the role of cognitive ability in helping explain outcomes in economic experiments

    To trust or not to trust: cognitive reflection in trust game

    Get PDF
    We present results from two studies that show a positive relation between cognitive reflection and trusting behavior, but no significant relation with trustworthy behavior. Our finding holds regardless of individual distributional social preferences and risk aversion. Our results add to a growing body of literature that illustrates the role of cognitive ability in helping explain outcomes in economic experiments

    To Switch or Not to Switch Payment Scheme? Determinants and Effects in a Bargaining Game

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    The incentive scheme selected in a laboratory experiment might trigger different type of behavior in participants. This paper is an attempt to screen the strategies adopted by agents in a bargaining game when buyer and seller have partly conflicting interests and are asymmetrically informed. We allow participants to choose the incentive scheme through which they will be paid at the end of the experiment controlling for past experience and individual characteristics. It is well known that payment method is highly correlated to the risk preferences shown by individuals, but little research is devoted to the analysis of the behavior induced by Random Lottery Incentive scheme (RLI for short) and Cumulative Scheme payment (CS for short) both on individual and social results. This paper aims to fill the gap

    "To sense" or "not to sense" in energy-efficient power control games

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    A network of cognitive transmitters is considered. Each transmitter has to decide his power control policy in order to maximize energy-efficiency of his transmission. For this, a transmitter has two actions to take. He has to decide whether to sense the power levels of the others or not (which corresponds to a finite sensing game), and to choose his transmit power level for each block (which corresponds to a compact power control game). The sensing game is shown to be a weighted potential game and its set of correlated equilibria is studied. Interestingly, it is shown that the general hybrid game where each transmitter can jointly choose the hybrid pair of actions (to sense or not to sense, transmit power level) leads to an outcome which is worse than the one obtained by playing the sensing game first, and then playing the power control game. This is an interesting Braess-type paradox to be aware of for energy-efficient power control in cognitive networks.Comment: Proc. of the 2nd International Conference on Game Theory for Network (GAMENETS), 201

    Progress in Behavioral Game Theory

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    Is game theory meant to describe actual choices by people and institutions or not? It is remarkable how much game theory has been done while largely ignoring this question. The seminal book by von Neumann and Morgenstern, The Theory of Games and Economic Behavior, was clearly about how rational players would play against others they knew were rational. In more recent work, game theorists are not always explicit about what they aim to describe or advise. At one extreme, highly mathematical analyses have proposed rationality requirements that people and firms are probably not smart enough to satisfy in everyday decisions. At the other extreme, adaptive and evolutionary approaches use very simple models-mostly developed to describe nonhuman animals-in which players may not realize they are playing a game at all. When game theory does aim to describe behavior, it often proceeds with a disturbingly low ratio of careful observation to theorizing
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