Network architecture, salience and coordination

This paper reports the results of an experimental investigation of monotone games with imperfect information. Players are located at the nodes of a network and observe the actions of other players only if they are connected by the network. These games have many sequential equilibria; nonetheless, the behavior of subjects in the laboratory is predictable. The network architecture makes some strategies salient and this in turn makes the subjects’ behavior predictable and facilitates coordination on efficient outcomes. In some cases, modal behavior corresponds to equilibrium strategies

Spectrum and decays of hadronic atoms

We describe the spectra and decays of pi pi and pi K atoms within a non-relativistic effective field theory. The evaluations of the energy shifts and widths are performed at next-to-leading order in isospin symmetry breaking. The prediction for the lifetime of the pi K atom in its ground-state yields tau = (3.7 \pm 0.4) * 10^{-15} sec.Comment: To appear in the proceedings of MESON 2004: 8th International Workshop on Meson Production, Properties and Interaction, Cracow, Poland, 4-8 June 2004. 7 page

An Experimental Study of Warranty Coverage and Dispute Resolution in Competitive Markets

In service and product markets where warranties are offered, disputes over warranty performance frequently occur between buyer and seller. Resolving such disputes in a fair and effective way has become an increasingly important and controversial question in recent years. Some observers have gone so far as to argue that the pervasiveness of such disputes and the inability to resolve them effectively is having a corrosive effect on society.1 This is probably somewhat extreme, but even a less excited perspective suggests that the design of procedures to handle consumer disputes is a matter for serious concern

Reflections on ten years of using economics games and experiments in teaching

In this paper, the author reflects on his 10 years’ experience of using games and experiments and in the process develops a type of practitioner’s guide. The existing quantitative and qualitative evidence on the impact of using games on student learning is reviewed. On balance, a positive effect, on measures of attainment, is found in the literature. Given these findings, it is surprising that there is also evidence in the UK and US that they are not widely used. Some factors are discussed that might deter tutors from employing them. Unsurprisingly, one of these is the additional cost, which might make the use of online games seem more attractive, given the way results can be automatically recorded. However, some relatively low-cost paper-based games were found to have significant advantages. In particular, they appear to facilitate social interaction which has a positive impact on student motivation and learning. One popular and effective paper-based game is discussed in some detail. A number of recommendations are provided on how to implement the game in order to maximise the learning benefits it can provide. Some ideas on how to maximise the learning benefits from using games more generally are also considered

Equity, Envy and Efficiency under Asymmetric Information

The set of fair (i.e. envy free and efficient) allocation rules may be empty in wellbehaved pure exchange economies if the agents are asymmetrically informed at the time of contracting. In addition, there may exist efficient allocation rules such that every agent envies another