Timing and Virtual Observability in Ultimatum Bargaining and "Weak Link" Coordination Games

Previous studies have shown that simply knowing one player moves first can affect behavior in games, even when the first-mover's moves are known to be unobservable. This observation violates the game-theoretic principle that timing of unobserved moves is irrelevant, but is consistent with virtual observability, a theory of how timing can matter without the ability to observe actions. However, this previous research only shows that timing matters in games where knowledge that one player moved first can help select that player's preferred equilibrium, presenting an alternative explanation to virtual observability. We extend this work by varying timing of unobservable moves in ultimatum bargaining games and “weak link” coordination games. In the latter, the equilibrium selection explanation does not predict any change in behavior due to timing differences. We find that timing without observability affects behavior in both games, but not substantially

Perfect Andreev Reflection of Helical Edge Modes in InAs/GaSb Quantum Wells

We present an experimental study of inverted InAs/GaSb composite quantum wells in the hybridization regime and contacted by superconducting electrodes. A front gate is used to vary the Fermi level into the mini-gap, where recent experiments indicate existence of helical edge modes [arXiv:1105.0137]. Zero bias dips in differential resistance are observed across the mini-gap, suggesting transport dominated by Andreev reflection processes. Evolution of the mini-gap differential resistance with applied bias as well as measured mini-gap excess current of 150 nA are in good agreement with the prediction of perfect Andreev reflection of the helical edge modes, which is necessitated by the absence of back-scattering channels. The perfect Andreev reflection occurs in spite of a finite barrier at the interface and shows strong sensitivity to time-reversal breaking - hallmarks of the helical nature of quantum spin Hall edges

The Price Impact of Order Book Events

We study the price impact of order book events - limit orders, market orders and cancelations - using the NYSE TAQ data for 50 U.S. stocks. We show that, over short time intervals, price changes are mainly driven by the order flow imbalance, defined as the imbalance between supply and demand at the best bid and ask prices. Our study reveals a linear relation between order flow imbalance and price changes, with a slope inversely proportional to the market depth. These results are shown to be robust to seasonality effects, and stable across time scales and across stocks. We argue that this linear price impact model, together with a scaling argument, implies the empirically observed "square-root" relation between price changes and trading volume. However, the relation between price changes and trade volume is found to be noisy and less robust than the one based on order flow imbalance

Helical edge states in multiple topological mass domains

The two-dimensional topological insulating phase has been experimentally discovered in HgTe quantum wells (QWs). The low-energy physics of two-dimensional topological insulators (TIs) is described by the Bernevig-Hughes-Zhang (BHZ) model, where the realization of a topological or a normal insulating phase depends on the Dirac mass being negative or positive, respectively. We solve the BHZ model for a mass domain configuration, analyzing the effects on the edge modes of a finite Dirac mass in the normal insulating region (soft-wall boundary condition). We show that at a boundary between a TI and a normal insulator (NI), the Dirac point of the edge states appearing at the interface strongly depends on the ratio between the Dirac masses in the two regions. We also consider the case of multiple boundaries such as NI/TI/NI, TI/NI/TI and NI/TI/NI/TI.Comment: 11 pages, 15 figure

Helical edge states in multiple topological mass domains

The two-dimensional topological insulating phase has been experimentally discovered in HgTe quantum wells (QWs). The low-energy physics of two-dimensional topological insulators (TIs) is described by the Bernevig-Hughes-Zhang (BHZ) model, where the realization of a topological or a normal insulating phase depends on the Dirac mass being negative or positive, respectively. We solve the BHZ model for a mass domain configuration, analyzing the effects on the edge modes of a finite Dirac mass in the normal insulating region (soft-wall boundary condition). We show that at a boundary between a TI and a normal insulator (NI), the Dirac point of the edge states appearing at the interface strongly depends on the ratio between the Dirac masses in the two regions. We also consider the case of multiple boundaries such as NI/TI/NI, TI/NI/TI and NI/TI/NI/TI.Comment: 11 pages, 15 figure

Timing and Virtual Observability in Ultimatum Bargaining and Weak Link Coordination Games

Previous studies have shown that simply knowing some players move first can affect behavior in games, even when the first-movers' moves are unobservable. This observation violates the game-theoretic principle that timing of unobserved moves is irrelevant. We extend this work by varying timing of unobservable moves in ultimatum bargaining games and "weak link" coordination games. Timing without observability affects both bargaining and coordination, but only weakly. The results are consistent with theories that allow "virtual observability" of first-mover choices, rather than theories in which timing matters only because first-mover advantage is used as a principle of equilibrium selection