We describe a common pool resource game in which players choose how much of the stock to extract in a sequential manner. There are two choices and one represents taking a larger proportion of the stock than the other. After a player makes a choice, the remaining stock grows at a constant rate. We consider a game with a finite number of alternating moves. It is shown that changes in the larger proportion of the stock that the players are allowed to take and the growth rate affect equilibrium, but have little effect on behavior in the laboratory. In addition to observing more cooperation than predicted, we observe that parameters that are strategically irrelevant affect behavior. The results of this research might help policy makers in developing adequate policies to prevent overexploitation of some natural renewable resources. 相似文献
We report results of one-shot traveler’s dilemma game experiments to test the predictions of a model of introspection. The
model describes a noisy out-of-equilibrium process by which players reach a decision of what to do in one-shot games. To test
the robustness of the model and to compare it to other models of introspection without noise, we introduce non-binding advice.
Advice has the effect of coordinating all players’ beliefs onto a common strategy. Experimentally, advice is implemented by
asking subjects who participated in a repeated traveler’s dilemma game to recommend an action to subjects playing one-shot
games with identical parameters. In contrast to observations, models based on best-response dynamics would predict lower claims
than the advised. We show that our model’s predictions with and without advice are consistent with the data.
相似文献
Are the atmospheric variables equally relevant for supermarket and hypermarket customers? As a contribution to the customers' choice of the store format, firstly this work aims to determine the perception of differences between hypermarkets and supermarkets in terms of store attributes. Second, it sheds light on the role played by atmospherics in the customers' decision process. This study uses a logit approach to model the probabilistic choice of the customers' store format using atmospheric and other marketing variables as important attributes of the grocery store. The model's estimation is based on personal interviews conducted during the shopping process in urban supermarkets and hypermarkets belonging to the same retail chain. The findings show that although the atmospheric variables are significantly important for both store formats, the customers perceive differently the importance of each retail atmospheric cue and other marketing variables, when buying in a hypermarket or in a supermarket: the choice of buying in hypermarket is explained by the significant importance given to the latent variables named pleasant atmosphere and accessibility and responsiveness; in contrast, the choice of buying in supermarkets is explained by the significant importance given to the latent variable nice decoration and empathy with the staff. The other latent variable designated by other marketing variables is only significantly important in the decision of choosing supermarkets. 相似文献
In this paper, we examine some popular 'choice modelling' approaches to environmental valuation, which can be considered as alternatives to more familiar valuation techniques based on stated preferences such as the contingent valuation method. A number of choice modelling methods are consistent with consumer theory, and its focus on an attribute‐based theory of value permits a superior representation of many environmental management contexts. However, choice modelling surveys can place a severe cognitive burden upon respondents and induce satisficing rather than maximising behavioural patterns. In this framework, we seek to identify the best available choice modelling alternative and investigate its potential to 'solve' some of the major biases associated with standard contingent valuation. We then discuss its use in the light of policy appraisal needs within the EU. An application to the demand for rock climbing in Scotland is provided as an illustration. 相似文献
This study examines how service supplier and buyer value co-creation influences buyers' attitudes toward service providers. Service-dominant logic is a prevalent concept in the services industry, providing an important marketing theory in which intangible resources, co-creation of value, and relationships are the keys to determining marketing exchanges. This research describes a model for analyzing value co-creation management in the hotel industry, focusing on the specific market segment of disabled customers. This framework helps foster value co-creation to increase the benefits for participants during each stage of their relationship. The paper also presents the managerial implications of the research findings. 相似文献
This study explores the influence that entrepreneurial cognition, in terms of the dichotomy in human information processing, has on the earliness of internationalization and post-entry speed. Entrepreneurial cognition is investigated through the lens of the dual-process theory, which posits that human information processing is formed of two systems, the experiential cognitive system (System 1) and the rational and analytical cognitive system (System 2). The speed of the entire internationalization process is analyzed in terms of earliness (how soon after inception a company enters its first international market) and post-entry speed (how fast it enters new markets after the first internationalization). Drawing on ten cases, we find that companies that internationalized earlier and faster were managed by entrepreneurs with higher levels of the experiential cognitive system. In contrast, companies that internationalized later and more gradually were managed by entrepreneurs with higher levels of the rational cognitive system. Thus, our study reveals that the speed of the entire process of internationalization is governed, at least partially, by the entrepreneur’s cognition. On the basis of our findings, we introduce three propositions on the moderation that the entrepreneur’s cognition exerts on the well-established relations between environmental signals and both earliness of internationalization and post-internationalization speed.
In this paper we argue that firms' financial distress shouldplay a greater role in the macroeconomic analysis of the businesscycle. We provide a non-technical account of a general equilibriummodel that exhibits financially-driven equilibrium cycles. Weshow that the empirical evidence is widely supportive of thekey hypothesis and implications of our approach. We use themodel in order to evaluate the effects of several policy measures.It turns out that deepening the market for second-hand capitalgoods, subsidizing the interest payments of companies whichstart up when financial conditions are tight, and bailing outsome companies in default can indeed 'stabilize' the economy.By way of generalization, we may say that the policy reactionto a financially driven bust should be accommodating. 相似文献