Trembles in extensive games with ambiguity averse players

We introduce and analyze three definitions of equilibrium for finite extensive games with imperfect information and ambiguity averse players. In a setting where players’ preferences are represented by maxmin expected utility, as characterized in Gilboa and Schmeidler (J Math Econ 18(2):141–153, 1989), our definitions capture the intuition that players may consider the possibility of slight arbitrary mistakes. This generalizes the idea leading to trembling-hand perfect equilibrium as introduced in Selten (Int J Game Theory 4(1):25–55, 1975), by allowing for ambiguous trembles characterized by sets of distributions. We prove existence for two of our equilibrium notions and relate our definitions to standard equilibrium concepts with expected utility maximizing players. Our analysis shows that ambiguity aversion can lead to behavioral implications that are distinct from those attained under expected utility maximization, even if ambiguous beliefs only arise from the possibility of slight mistakes in the implementation of unambiguous strategies.     

Using tracking technology to improve marketing: insights from a historic town in Tasmania,Australia

ABSTRACT

This study examines the movement patterns of different market segments in an historic town. It combines traditional visitor surveys with a bespoke tourist tracking application. Two analytical stages were undertaken. The first involved analyzing the movements of tourist segments and revealed that “heritage” tourists tended to visit for the shortest lengths of time. The second phase revealed that a visit of between one and two hours seemed to provide the best opportunity to explore the village fully, while shorter and longer stays did not. The insights challenge traditional notions that heritage-oriented tourists should form the target market for historic communities.     

Livestock and land share contracts in a Hindu society

This article examines factors related to a livestock rental market in western Nepal and assesses whether this market is associated with caste differentiation and land rental market participation. Theoretical models for asset‐rich (i.e., high‐caste) households, rich in land and livestock, and asset‐poor (i.e., low‐caste families) households are presented to provide logical explanations for the existence of a livestock rental market and the synergy between livestock and land rental markets participation. A combination of double hurdle models and bivariate‐ordered probit models were used to test the implications of the models. Consistent with the theoretical models, land‐ and livestock‐rich high‐caste households were more likely to rent out land and/or livestock, whereas land‐ and livestock‐poor and credit constrained low‐caste households were more likely to rent livestock and land from others. Participation in the two markets was positively correlated, indicating a synergistic relationship that may be due to production and transaction costs reducing benefits. Policies that can enhance the allocative efficiency of livestock and land rental markets can improve equity as well as efficiency of land use in Nepal. Provision of livestock credit to land‐poor low‐caste households is also crucially dependent on their access to more long‐term contracts for land.     

Untangling gender differentiated food security gaps in Bhutan: An application of exogenous switching treatment regression

Using nationally representative data from Bhutan, and applying an exogenous switching treatment regression model, this study assessed the food security status between male‐headed households (MHHs) and female‐headed households (FHHs). The study demonstrates that there is no significant difference between MHHs and FHHs in terms of food security, but when MHHs are compared with de jure FHHs, the food security is significantly lower among the de jure FHHs. The food security gap between MHHs and de jure FHHs is due to the differences in both observable and unobservable characteristics of the households. The food security gap between de facto and de jure FHHs can be explained by the influence of connections and wider access to off‐farm income. Most of the previous studies consider all FHHs as a homogenous entity and ignore the concept of de jure FHHs (i.e., a household run by single, widowed, or divorced woman) and de facto FHHs (i.e., a household where there is a husband, but he is not physically present because of his work off‐farm). As the present research takes this into account, the econometric findings from our study, thus have important implications in formulating special food security policies targeting the most vulnerable FHHs.     

Write Code,Save Lives: How a Community Uses Open Innovation to Address a Societal Challenge

This study explores how a community uses open innovation over time to tackle a global societal challenge. we conduct an in‐depth case study of OpenMRS, an open‐source software community providing affordable medical record‐keeping software in developing nations. We develop a process model that describes how inbound, outbound, and coupled open innovation influenced the community through four discrete phases of community development. We explain how the founders’ vision led to the creation of the community, and how increasing community participation and community governance facilitated its growth. Interestingly, we found that economic opportunities made possible by open innovation may paradoxically create challenges to community sustainability. Ultimately, this study expands our understanding of open innovation communities in different settings, and their role in addressing societal challenges.     

A note on Kuhn’s Theorem with ambiguity averse players

Kuhn’s Theorem shows that extensive games with perfect recall can equivalently be analyzed using mixed or behavioral strategies, as long as players are expected utility maximizers. This note constructs an example that illustrates the limits of Kuhn’s Theorem in an environment with ambiguity averse players who use a maxmin decision rule and full Bayesian updating.     

Does women’s participation in agricultural technology adoption decisions affect the adoption of climate‐smart agriculture? Insights from Indo‐Gangetic Plains of India

Increased participation of women in the agricultural technology adoption decision by farm households is one of the key indicators of gender empowerment in the agricultural sector. This study examines whether women’s participation in the household decision to adopt agricultural technology affects the adoption of climate‐smart agriculture (CSA), using data collected from 1,267 farm households from two Indian states of Bihar and Haryana. When we considered the sex of the household head (using a dummy variable for male‐headed vs female‐headed household) as a basis of analyzing the role of gender in the adoption of CSA, we found that women in Haryana had no role in the adoption of CSA. On the contrary, when we considered women’s participation in technology adoption decisions as a basis of gender analysis, we found that women’s participation in technology adoption decisions in Haryana is much higher as compared to Bihar. Consequently, the likelihood to adopt CSA is higher in Haryana than in Bihar. We also found that wealth, training, and access to extension and market positively influenced CSA adoption. Qualitative analysis shows that women farmers prioritize family food security rather than farm income, and therefore, they are more likely to focus on CSA to ensure food security.