This study provides detailed evidence on the recent transition state of Central and Eastern European (CEE) countries. It draws on data from a survey conducted among portfolio managers of Western investment funds…
We consider a population initially consisting of cooperators and defectors, who are engaged in a Prisoner's Dilemma. A knowledgeable mutant is introduced who memorizes other players by experience. We derive a…
In an experiment on sequential rent-seeking, we find that the theoretically predicted first-mover advantage does not exist empirically. Rather, a second-mover advantage can be observed. Though the subgame…
