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Tag Archives: Games

Better Crowdfunding

In 1998, I designed the “dominant assurance contract” (DAC) mechanism for producing public goods privately. In my latest paper, just published in GEB written with the excellent Tim Cason and Robertas Zubrickas we test the theory in the lab and…it works! Kickstarter hadn’t yet been created when I first wrote but the DAC mechanism can now be easily explained as a Kickstarter contract with refund bonuses. On Kickstarter and other crowdfunding sites you contribute to a...

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Solve for the football culture equilibrium that is Mexican

Many fans shrug off accusations of homophobia and insist the chant is just a joke. “We do not scream at the goalkeeper because of his sexual preference, we don’t even care about it,” a YouTube commenter on a 2016 public-service video denouncing the chant wrote. “We shout to create chaos, because it is part of the atmosphere of a stadium in Mexico.” For some, the chant merely illustrates wider homophobia in society. Here is the proposal of an American academic: “Convince fans that it brings...

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Can you call this a new service sector job?

Dave Taube has won a computer, a whitewater rafting trip, and several grills. There’s also the kayak, the powder-blue Coors Light onesie, and the Bruce Springsteen tickets. He recently took home $10,000 from Cost Plus World Market in its “World of Joy” sweepstakes. Recently, he found himself in the running for a trip to Antarctica, which would be the thirty-sixth vacation he’s won. His photo and caption, submitted in response to the prompt, “Tell us what you miss about international travel,”...

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The age of reason is fifth grade?

Finally, the proportion of equilibrium play increases significantly until fifth grade and stabilizes afterward, suggesting that the contribution of age to equilibrium play vanishes early in life. Here is more from Isabelle Brocas and Juan D. Carrillo, forthcoming in the JPE. The post The age of reason is fifth grade? appeared first on Marginal REVOLUTION.

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Maradona Plays Minimax

This paper tests the theory of mixed strategy equilibrium using Maradona’s penalty kicks during his lifetime professional career. The results are remarkably consistent with equilibrium play in every respect: (i) Maradona’s scoring probabilities are statistically identical across strategies; (ii) His choices are serially independent. These results show that Maradona’s behavior is consistent with Nash’s predictions, specifically with both implications of von...

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NFT virtual horse markets in everything

Is it simply that we have made gambling too much fun and too intriguing?  Or should we upgrade our view of the welfare consequences of gambling?: On Zed Run, a digital horse racing platform, several such events take place every hour, seven days a week. Owners pay modest entry fees — usually between $2 and $15 — to run their steeds against others for prize money. The horses in these online races are NFTs, or “nonfungible tokens,” meaning they exist only as digital assets…. “A breathing...

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Ola Malm on the future and industrial organization of chess

It was great to see your “Thursday assorted links” link regarding chess. It has been fascinating to follow the recent online boom to which the game has been subject and to think about what it may mean for the organization, and business, of chess over time. I speculate, of course, but – as to what the future holds – I believe at least one possible path for the sport runs as follows: 1. The three major chess-focused online platforms (chess.com, lichess, and chess24) reduces to one through a...

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*Queen’s Gambit* (no real spoilers in this post)

I’ve now seen a few episodes, and I have a few comments on the chess: 1. No player, including Magnus Carlsen, can become that good that quickly, without a lot of learning and losing along the way. 2. They show the players moving too fast, though for dramatic reasons this is easy enough to understand. 3. The Sicilian was indeed very popular in 1963, but not quite that popular. 4. It captures the feel of earlier U.S. chess tournaments very well, noting that my own participation came later...

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The non-linearity of Covid-19 response

My colleague Bryan Caplan has some comments on the topic, here is also Robin Hanson here and here.  I think both are trying to fit the Covid battle too much into a framework of equating marginal benefit and marginal cost.  While that MB = MC condition is true tautologically for my views as well, I see it as a less useful framing given the non-linearities involved.  It is only a modest oversimplification to assert that either we are beating back Covid or it is beating back us, and we...

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