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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.

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

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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