Séminaire GREDEG : Nobuyuki HANAKI (Osaka University)

Nobuyuki HANAKI (Osaka University)

Title: « An experimental Nash program »

Abstract: In this presentation, I will summarize a series of experiments that compare various mechanisms that implement Shapley value. Particular focus is given to a comparison between an offer based mechanism proposed by Hart and Mas-Colell (1996, H-MC) and a demand based mechanism proposed by Winter (1994, Winter). The results suggest that while the offer based H-MC results in higher frequency of the grand coalition formation and efficiency than Winter, if we focus on those groups that formed the grand coalition, Winter mechanism results in
allocation that are closer to the Shapley value. I complement results of these experiments on structured bargaining models with results of unstructured bargaining experiments to better understand them.
 

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