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Observable Stability SIGNED

Evolutionary stability, observability, and efficiency

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

Observable Stability project word cloud

Explore the words cloud of the Observable Stability project. It provides you a very rough idea of what is the project "Observable Stability" about.

buyers few matched indirect depends stable experimentally play experiment fill nash reports model join professional behavior predictions preferences limited happen light online evolutionary game behave shed learning locally material efficient selected engage former dilemmas incumbents purchases cultural occasionally capture equilibria interactions subproject outcomes questions kinds mechanism tests verifiable reciprocity efficiency final round implications mainly asymmetric players feedback off interesting situations mimic run dynamic characterizing richness usually tendency interacting larger latter site agent successful choose ebay theoretical agents behaviors lie observe sellers literature obtain agenda somewhere influence gap subprojects social people structure

Project "Observable Stability" data sheet

The following table provides information about the project.

Coordinator	BAR ILAN UNIVERSITY Organization address address: BAR ILAN UNIVERSITY CAMPUS city: RAMAT GAN postcode: 52900 website: www.biu.ac.il contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Israel [IL]
Project website	https://sites.google.com/site/yuval26/Home
Total cost	831˙487 €
EC max contribution	831˙487 € (100%)
Programme	1. H2020-EU.1.1. (EXCELLENT SCIENCE - European Research Council (ERC))
Code Call	ERC-2015-STG
Funding Scheme	ERC-STG
Starting year	2016
Duration (year-month-day)	from 2016-10-01 to 2021-09-30

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	BAR ILAN UNIVERSITY BAR ILAN UNIVERSITY Organization address address: BAR ILAN UNIVERSITY CAMPUS city: RAMAT GAN postcode: 52900 website: www.biu.ac.il contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	IL (RAMAT GAN)	coordinator	831˙487.00

Map

Project objective

The existing literature mainly focuses on two kinds of interactions: short-term interactions in which the behavior today does not influence the future, and long-term interactions with the same partner. In the former model, the only stable outcomes are Nash equilibria (which are typically non-efficient), while the latter model allows one to achieve efficient outcomes. Many interesting situations lie somewhere in between, typically when people engage in short-term interactions but future partners may obtain some information about the behavior today. For example, how do people behave when interacting in one-off purchases in an online site with a feedback mechanism (e.g., eBay)? In this project I will fill the large gap in the literature, by characterizing evolutionary stable outcomes when players have limited information about the partner’s past, and how this stable behavior depends on the richness and the structure of the observed information. This will shed new light on indirect reciprocity and its use to achieve efficiency in social dilemmas. The evolutionary stable outcomes capture the long run behavior in a dynamic process of cultural learning. Agents are randomly matched in each round to play a game with a new partner. Each agent may observe some information about the partner’s past behavior. New agents, who join the interactions, usually mimic one of the existing behaviors, with a larger tendency to choose more successful incumbents. Occasionally, few agents experiment with a new behavior. The research agenda includes several theoretical subprojects with various research questions, such as: (1) Would non-material preferences be stable? (2) What will be the influence of non-verifiable reports about past behavior? (3) Which of the (locally) stable outcomes would be selected? (4) What will happen in asymmetric interactions between professional sellers and non-experienced buyers? The final subproject experimentally tests the various predictions and key implications.

Publications

List of publications.
year	authors and title	journal	last update
2017	Yuval Heller Instability of belief-free equilibria published pages: 261-286, ISSN: 0022-0531, DOI: 10.1016/j.jet.2017.01.001	Journal of Economic Theory 168	2019-07-08
2018	Sivan Frenkel, Yuval Heller, Roee Teper THE ENDOWMENT EFFECT AS BLESSING published pages: 1159-1186, ISSN: 0020-6598, DOI: 10.1111/iere.12300	International Economic Review 59(2)	2019-07-08
2019	Yuval Heller Eyal Winter Biased-belief equilibrium published pages: , ISSN: 1945-7669, DOI:	American Economic Journal: Microeconomics forthcoming	2019-05-22
2017	Yuval Heller, Erik Mohlin Observations on Cooperation published pages: 2253-2282, ISSN: 0034-6527, DOI: 10.1093/restud/rdx076	The Review of Economic Studies 85/4	2019-05-22
2018	Yuval Heller, Erik Mohlin Social learning and the shadow of the past published pages: 426-460, ISSN: 0022-0531, DOI: 10.1016/j.jet.2018.07.003	Journal of Economic Theory 177	2019-05-22
2019	Yuval Heller, Erik Mohlin Coevolution of deception and preferences: Darwin and Nash meet Machiavelli published pages: 223-247, ISSN: 0899-8256, DOI: 10.1016/j.geb.2018.09.011	Games and Economic Behavior 113	2019-05-22

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The information about "OBSERVABLE STABILITY" are provided by the European Opendata Portal: CORDIS opendata.