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Reinhard Selten’s work marks the beginning of the experimental analysis of oligopoly. Indeed, his research includes both one of the first experiments on quantity competition and the first one on price competition. In the aftermath a very rich literature has emerged, dealing both with theory-based issues linked to the many oligopoly models that appeared as the result of the application of game-theory...
In this paper we provide a summary of results concerning two series of experiments we ran based on a modified signalling game, which was presented graphically to subjects on a screen. The game for the initial experiment was selected by Reinhard Selten in coordination with the first named author. It has the interesting property that the strategically stable outcome (Kohlberg and Mertens 1986) does...
Social networks play an important role in life. We interact with our friends, neighbors and business partners, who in turn also interact with people who are not part of the community we directly interact with. How people form and maintain networks and how networks impact their behaviors raises behavioral questions that have been addressed by sociologists, economists, physicists, computer scientists...
What could be the relationship between Reinhard Selten and the dinos’ story? An easy answer is that he was Nagel’s “Doktorvater” (PhD advisor) and the guessing game was one of the topics in her thesis. A more challenging connection is to Reinhard Selten’s constant fear to be trapped and blinded by the mathematical reasoning of game theory as a description of human behavior like the dinos seem to be...
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