Mixed Strategy Play and the Minimax Hypothesis (1996)
Jason M. Shachat, Jason M. Shachat
This paper reports on a set of experiments designed to discriminate among the possible sources of the failure of the unique mixed strategy minimax equilibrium of the O'Neill (1987) game. First,...
An Experimental Investigation of the Incentives to Form Agricultural Marketing Pools
Elizabeth Hoffman, Gary Libecap, Jason M. Shachat
This paper presents theoretical extensions and laboratory tests of the Hoffman and Libecap (1994) model of individual firm incentives to form agricultural marketing pools. The key incentives are...
On the Irrelevance of Risk Attitudes in Repeated Two-Outcome Games
John Wooders, Jason M. Shachat
We analyze the equilibria of two-person supergames consisting of the sequential play of a finite collection of stage games, where each stage game is strictly competitive and has two outcomes for each...
Mixed Strategy Play and the Minimax Hypothesis
This paper reports on a set of experiments designed to discriminate among the possible sources of the failure of the unique mixed strategy minimax equilibrium of the O'Neill (1987) game. First, the...
Individual Rationality and Market Efficiency
Steven Gjerstad, Jason M. Shachat
The demonstration by Smith [1962] that prices and allocations quickly converge to the competitive equilibrium in the continuous double auction (CDA) was one of the first – and remains one of the...