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Burning money and (pseudo) first-mover advantages: an experimental study on forward induction

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  • Huck, Steffen
  • Muller, Wieland

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 51 (2005)
Issue (Month): 1 (April)
Pages: 109-127

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Handle: RePEc:eee:gamebe:v:51:y:2005:i:1:p:109-127

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Web page: http://www.elsevier.com/locate/inca/622836

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References

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  1. Kenneth Clark & Stephen Kay & Martin Sefton, 1997. "When Are Nash Equilibria Self-Enforcing? An Experimental Analysis," Experimental 9707001, EconWPA.
  2. van Damme,Eric, 1987. "Stable equilibria and forward induction," Discussion Paper Serie A 128, University of Bonn, Germany.
  3. Guth, Werner & Huck, Steffen & Rapoport, Amnon, 1998. "The limitations of the positional order effect: Can it support silent threats and non-equilibrium behavior?," Journal of Economic Behavior & Organization, Elsevier, vol. 34(2), pages 313-325, February.
  4. Guth, Werner & Huck, Steffen & Muller, Wieland, 2001. "The Relevance of Equal Splits in Ultimatum Games," Games and Economic Behavior, Elsevier, vol. 37(1), pages 161-169, October.
  5. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, January.
  6. Balkenborg, Dieter, 1994. "An Experiment on Forward- versus Backward Induction," Discussion Paper Serie B 268, University of Bonn, Germany.
  7. Miguel Costa-Gomes & Vincent P. Crawford & Bruno Broseta, . "Cognition and Behavior in Normal-Form Games:An Experimental Study," Discussion Papers 00/45, Department of Economics, University of York.
  8. Schotter Andrew & Weigelt Keith & Wilson Charles, 1994. "A Laboratory Investigation of Multiperson Rationality and Presentation Effects," Games and Economic Behavior, Elsevier, vol. 6(3), pages 445-468, May.
  9. Cooper, Russell & De Jong, Douglas V. & Forsythe, Robert & Ross, Thomas W., 1992. "Forward induction in coordination games," Economics Letters, Elsevier, vol. 40(2), pages 167-172, October.
  10. KOHLBERG, Elon & MERTENS, Jean-François, . "On the strategic stability of equilibria," CORE Discussion Papers RP -716, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Weizsacker, Georg, 2003. "Ignoring the rationality of others: evidence from experimental normal-form games," Games and Economic Behavior, Elsevier, vol. 44(1), pages 145-171, July.
  12. Van Huyck John B. & Battalio Raymond C. & Beil Richard O., 1993. "Asset Markets as an Equilibrium Selection Mechanism: Coordination Failure, Game Form Auctions, and Tacit Communication," Games and Economic Behavior, Elsevier, vol. 5(3), pages 485-504, July.
  13. Brandts, Jordi & Holt, Charles A., 1995. "Limitations of dominance and forward induction: Experimental evidence," Economics Letters, Elsevier, vol. 49(4), pages 391-395, October.
  14. Nachbar, J H, 1990. ""Evolutionary" Selection Dynamics in Games: Convergence and Limit Properties," International Journal of Game Theory, Springer, vol. 19(1), pages 59-89.
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Citations

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Cited by:
  1. Poulsen, Anders, 2007. "Learning to Make Strategic Moves: Experimental Evidence," MPRA Paper 10927, University Library of Munich, Germany.
  2. Peter H. Kriss & Andreas Blume & Roberto A. Weber, 2011. "Coordination, efficiency and pre-play communication with forgone costly messages," ECON - Working Papers 034, Department of Economics - University of Zurich.
  3. Seel, Christian & Wichardt, Philipp C., 2012. "How burning money requires a lot of rationality to be effective," Economics Letters, Elsevier, vol. 115(1), pages 111-113.
  4. Souza, Filipe & Rêgo, Leandro, 2012. "Mixed Equilibrium: When Burning Money is Rational," MPRA Paper 43410, University Library of Munich, Germany.
  5. Jordi Brandts & Antonio Cabrales & Gary Charness, 2007. "Forward induction and entry deterrence: an experiment," Economic Theory, Springer, vol. 33(1), pages 183-209, October.
  6. Andreas Blume, 2011. "The Dog That Did Not Bark: Pre-Play Communication with Foregone Costly Messages," Working Papers 438, University of Pittsburgh, Department of Economics, revised Jan 2011.

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