When are Nash equillibria self-enforcing?: an experimental analysis

In a sealed-bid auction, bidders simultaneously submit their sealed bids to the auctioneer without knowledge of the others' bids. The auctioneer will then declare the bidder with the highest price (or second-highest price) as the winner during the ...

The fair division of resources among strategic agents is an important age-old problem that has led to a rich body of literature. At the center of this literature lies the question of whether there exist mechanisms that can implement fair outcomes, ...

Much work has been done on the computation of market equilibria. However due to strategic play by buyers, it is not clear whether these are actually observed in the market. Motivated by the observation that a buyer may derive a better payoff by feigning ...