Persistent Link:
http://hdl.handle.net/10150/289566
Title:
Heterogeneity and equilibrium
Author:
Shachat, Jason Matthew, 1967-
Issue Date:
1997
Publisher:
The University of Arizona.
Rights:
Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.
Abstract:
The research reported in this dissertation explores the observable effects that individual heterogeneity implies in strategic environments. The first chapter provides a focused experimental test of mixed strategy play in strictly competitive games. The experiment directly tests whether serial correlation results from subjects' inability to generate sequences of actions that appear to be time independent, or instead from the play of non-equilibrium strategies. This is achieved by allowing the subjects to generate actions via a simple randomizing device. It is found that serial correlation is not reduced and that subjects adopt a wide variety of non-equilibrium mixed strategies. This wide variety of mixtures potentially explains the seeming paradox of minimax winning proportions with a high variance of win rates across pairs of players. In the second chapter a theoretical model is developed for simultaneous move games in which the observable outcomes are allocations of monetary payoffs or commodity bundles, not expected utility levels. It is assumed that the players' mappings from the uncertain money amounts or commodity bundle allocations to expected utility levels are heterogeneous and are private information. The third chapter applies this framework to investigate the incentives to form agricultural marketing pools.
Type:
text; Dissertation-Reproduction (electronic)
Keywords:
Economics, Theory.
Degree Name:
Ph.D.
Degree Level:
doctoral
Degree Program:
Graduate College; Economics
Degree Grantor:
University of Arizona
Advisor:
Walker, Mark

Full metadata record

DC FieldValue Language
dc.language.isoen_USen_US
dc.titleHeterogeneity and equilibriumen_US
dc.creatorShachat, Jason Matthew, 1967-en_US
dc.contributor.authorShachat, Jason Matthew, 1967-en_US
dc.date.issued1997en_US
dc.publisherThe University of Arizona.en_US
dc.rightsCopyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author.en_US
dc.description.abstractThe research reported in this dissertation explores the observable effects that individual heterogeneity implies in strategic environments. The first chapter provides a focused experimental test of mixed strategy play in strictly competitive games. The experiment directly tests whether serial correlation results from subjects' inability to generate sequences of actions that appear to be time independent, or instead from the play of non-equilibrium strategies. This is achieved by allowing the subjects to generate actions via a simple randomizing device. It is found that serial correlation is not reduced and that subjects adopt a wide variety of non-equilibrium mixed strategies. This wide variety of mixtures potentially explains the seeming paradox of minimax winning proportions with a high variance of win rates across pairs of players. In the second chapter a theoretical model is developed for simultaneous move games in which the observable outcomes are allocations of monetary payoffs or commodity bundles, not expected utility levels. It is assumed that the players' mappings from the uncertain money amounts or commodity bundle allocations to expected utility levels are heterogeneous and are private information. The third chapter applies this framework to investigate the incentives to form agricultural marketing pools.en_US
dc.typetexten_US
dc.typeDissertation-Reproduction (electronic)en_US
dc.subjectEconomics, Theory.en_US
thesis.degree.namePh.D.en_US
thesis.degree.leveldoctoralen_US
thesis.degree.disciplineGraduate Collegeen_US
thesis.degree.disciplineEconomicsen_US
thesis.degree.grantorUniversity of Arizonaen_US
dc.contributor.advisorWalker, Marken_US
dc.identifier.proquest9738958en_US
dc.identifier.bibrecord.b37471028en_US
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