The Groves-Ledyard mechanism: an experimental study of institutional design

Article Abstract:

The performance of the Groves-Ledyard (GL) mechanism is analyzed. The GL mechanism theoretically solves the free-rider problem in public goods provision in certain economic environments. It is shown that the punishment parameter determines the performance of the mechanism. A higher punishment parameter increases the probability of an individual exhibiting the responses predicted by the GL mechanism.

Models, Public goods, Resource allocation

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Principles of network development and evolution: an experimental study

Article Abstract:

A study investigating the evolution of networks composed of decentralized decision makers and the individual decision making processes that are responsible for its development, is presented. The models of equilibrium based on principle of Nash equilibrium, are made use of in the study.

United States, Analysis, Usage, Games of strategy (Mathematics), Business networks (Social groups)

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An experimental study of serial and average cost pricing mechanisms

Article Abstract:

The differences in the performances of serial mechanisms and average cost pricing mechanisms under different circumstances are discussed.

Evaluation, Pricing policies

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