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Observable Stability SIGNED

Evolutionary stability, observability, and efficiency

Total Cost €

0

EC-Contrib. €

0

Partnership

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 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.

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

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 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

year authors and title journal last update
List of publications.
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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