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- 2014
- Working Paper
The NTU-Value of Stochastic Games
By: Elon Kohlberg and Abraham Neyman
Since the seminal paper of Shapley, the theory of stochastic games has been developed in many different directions. However, there has been practically no work on the interplay between stochastic games and cooperative game theory. Our purpose here is to make a first... View Details
Kohlberg, Elon, and Abraham Neyman. "The NTU-Value of Stochastic Games." Harvard Business School Working Paper, No. 15-014, September 2014.
- 08 Apr 2015
- Working Paper Summaries
The Cooperative Solution of Stochastic Games
Keywords: by Elon Kohlberg & Abraham Neyman
- 2015
- Working Paper
The Cooperative Solution of Stochastic Games
By: Elon Kohlberg and Abraham Neyman
Building on the work of Nash, Harsanyi, and Shapley, we define a cooperative solution for strategic games that takes account of both the competitive and the cooperative aspects of such games. We prove existence in the general (NTU) case and uniqueness in the TU... View Details
Kohlberg, Elon, and Abraham Neyman. "The Cooperative Solution of Stochastic Games." Harvard Business School Working Paper, No. 15-071, March 2015.
- May 2014
- Article
I'm Sorry About the Rain! Superfluous Apologies Demonstrate Empathic Concern and Increase Trust
By: A.W. Brooks, H. Dai and M.E. Schweitzer
Existing apology research has conceptualized apologies as a device to rebuild relationships following a transgression. As a result, apology research has failed to investigate the use of apologies for outcomes for which individuals are obviously not culpable (e.g.,... View Details
Keywords: Superfluous Apology; Apology; Benevolence-based Trust; Empathy; Stochastic Trust Game; Trust; Emotions; Societal Protocols
Brooks, A.W., H. Dai, and M.E. Schweitzer. "I'm Sorry About the Rain! Superfluous Apologies Demonstrate Empathic Concern and Increase Trust." Social Psychological & Personality Science 5, no. 4 (May 2014): 467–474.
- June 2024 (Revised March 2025)
- Case
Wemade: (Re)Establishing Trust in Blockchain Games (A)
By: Jung Koo Kang, Charles C.Y. Wang, David Allen and Kwangmoon So
This case explores the fundamental challenges and accounting issues arising from the integration of blockchain technology into traditional business models. It features Wemade, a South Korean online gaming company that has staked its future on blockchain-based games.... View Details
Keywords: Blockchain; Cryptocurrency; Video Games; Accounting; Financial Reporting; Revenue Recognition; Games, Gaming, and Gambling; Corporate Disclosure; Information Technology; Technology Adoption; Video Game Industry; Video Game Industry; Video Game Industry; South Korea
Kang, Jung Koo, Charles C.Y. Wang, David Allen, and Kwangmoon So. "Wemade: (Re)Establishing Trust in Blockchain Games (A)." Harvard Business School Case 124-025, June 2024. (Revised March 2025.)
- 1978
- Article
On Stochastic Games with Stationary Optimal Strategies
By: Truman F. Bewley and Elon Kohlberg
Bewley, Truman F., and Elon Kohlberg. "On Stochastic Games with Stationary Optimal Strategies." Mathematics of Operations Research, no. 3 (1978): 104–125.
- 1976
- Article
The Asymptotic Theory of Stochastic Games
By: Truman F. Bewley and Elon Kohlberg
Bewley, Truman F., and Elon Kohlberg. "The Asymptotic Theory of Stochastic Games." Mathematics of Operations Research, no. 1 (1976): 197 – 208.
- 1976
- Article
The Asymptotic Solution of a Recursion Equation Occurring in Stochastic Games
By: Truman F. Bewley and Elon Kohlberg
Keywords: Games, Gaming, and Gambling
Bewley, Truman F., and Elon Kohlberg. "The Asymptotic Solution of a Recursion Equation Occurring in Stochastic Games." Mathematics of Operations Research, no. 1 (1976): 321 – 337.
- September 2024 (Revised March 2025)
- Supplement
Wemade: (Re)Establishing Trust in Blockchain Games (B)
By: Jung Koo Kang, Charles C.Y. Wang, David Allen and Kwangmoon So
This supplement reviews Wemade's efforts to rebuild confidence in its business after its WEMIX coin was delisted from the major South Korean cryptocurrency exchanges on December 8, 2022. It outlines Wemade's strategy of transparency, which included partnerships with... View Details
Keywords: Blockchain; Cryptocurrency; Crypto Economy; Accounting; Financial Reporting; Revenue Recognition; Games, Gaming, and Gambling; Corporate Disclosure; Information Technology; Financial Markets; Governance; Video Game Industry; Video Game Industry; South Korea
Kang, Jung Koo, Charles C.Y. Wang, David Allen, and Kwangmoon So. "Wemade: (Re)Establishing Trust in Blockchain Games (B)." Harvard Business School Supplement 125-018, September 2024. (Revised March 2025.)
- May 2012
- Article
Correlation in the Multiplayer Electronic Mail Game
By: Peter A. Coles and Ran Shorrer
In variants of the Electronic Mail Game (Rubinstein, 1989) where two or more players communicate via multiple channels, the multiple channels can facilitate collective action via redundancy, the sending of the same message along multiple paths or else repeatedly along... View Details
Keywords: Electronic Mail Game; Stag Hunt; Coordination; Signaling; Networks; Behavior; Communication; Trust; Game Theory
Coles, Peter A., and Ran Shorrer. "Correlation in the Multiplayer Electronic Mail Game." B.E. Journal of Theoretical Economics 12, no. 1 (May 2012).
- September 2006
- Article
Decomposing Trust and Trustworthiness
By: Nava Ashraf, Iris Bohnet and Nikita Piankov
What motivates people to trust and be trustworthy? Is trust solely "calculative," based on the expectation of trustworthiness, and trustworthiness only reciprocity? Employing a within-subject design, we run investment and dictator game experiments in Russia, South... View Details
Ashraf, Nava, Iris Bohnet, and Nikita Piankov. "Decomposing Trust and Trustworthiness." Experimental Economics 9, no. 3 (September 2006): 193–208.
- Article
Does Observability Amplify Sensitivity to Moral Frames? Evaluating a Reputation-Based Account of Moral Preferences
By: Valerio Capraro, Jillian J. Jordan and Ben Tappin
A growing body of work suggests that people are sensitive to moral framing in economic games involving prosociality, suggesting that people hold moral preferences for doing the “right thing”. What gives rise to these preferences? Here, we evaluate the explanatory power... View Details
Keywords: Moral Preferences; Moral Frames; Observability; Trustworthiness; Trust Game; Trade-off Game; Moral Sensibility; Reputation; Behavior; Trust
Capraro, Valerio, Jillian J. Jordan, and Ben Tappin. "Does Observability Amplify Sensitivity to Moral Frames? Evaluating a Reputation-Based Account of Moral Preferences." Journal of Experimental Social Psychology 94 (May 2021).
- Article
Analyzing Scrip Systems
By: Kris Johnson, David Simchi-Levi and Peng Sun
Scrip systems provide a nonmonetary trade economy for exchange of resources. We model a scrip system as a stochastic game and study system design issues on selection rules to match potential trade partners over time. We show the optimality of one particular rule in... View Details
Keywords: ＂Repeated Games＂; Stochastic Trust Game; Dynamic Program; P2P Lending; Scrip Systems; Artificial Currency; Non-monetary Trade Economies; Marketplace Matching; Currency; Operations; Game Theory
Johnson, Kris, David Simchi-Levi, and Peng Sun. "Analyzing Scrip Systems." Operations Research 62, no. 3 (May–June 2014): 524–534.
- 2021
- Working Paper
Does Observability Amplify Sensitivity to Moral Frames? Evaluating a Reputation-Based Account of Moral Preferences
By: Valerio Capraro, Jillian J. Jordan and Ben Tappin
A growing body of work suggests that people are sensitive to moral framing in economic games involving prosociality, suggesting that people hold moral preferences for doing the “right thing”. What gives rise to these preferences? Here, we evaluate the explanatory power... View Details
Keywords: Moral Preferences; Moral Frames; Observability; Trustworthiness; Trust Game; Trade-off Game; Moral Sensibility; Reputation; Behavior; Trust
Capraro, Valerio, Jillian J. Jordan, and Ben Tappin. "Does Observability Amplify Sensitivity to Moral Frames? Evaluating a Reputation-Based Account of Moral Preferences." Working Paper, January 2021.
- August 2020
- Article
Trust in State and Non-State Actors: Evidence from Dispute Resolution in Pakistan
By: Daron Acemoglu, Ali Cheema, Asim I. Khwaja and James A. Robinson
Lack of trust in state institutions is a pervasive problem in many developing countries. This paper investigates whether information about improved public services can help build trust in state institutions and move people away from non-state actors. We find that... View Details
Keywords: Dispute Resolution; Lab-in-the-field Games; Legitimacy; Motivated Reasoning; Non-state Actors; State Capacity; Trust; Conflict and Resolution; Information; Developing Countries and Economies
Acemoglu, Daron, Ali Cheema, Asim I. Khwaja, and James A. Robinson. "Trust in State and Non-State Actors: Evidence from Dispute Resolution in Pakistan." Journal of Political Economy 128, no. 8 (August 2020): 3090–3147.
- 01 Sep 2023
- News
End Game
year of business, the company announced that the family was giving away all of their equity (worth somewhere in the billions) to a new entity called the Patagonia Purpose Trust and a new nonprofit, the Holdfast Collective. The 501(c)(4)... View Details
- April 2014
- Article
Between Self-interest and Reciprocity: The Social Bright Side of Self-control Failure
By: Eliran Halali, Yoella Bereby-Meyer and Nachshon Meiran
Despite the importance of reciprocity in many areas of social life, little is known about possible factors affecting it and its interplay with the self-interest motive to maximize one’s own gains. In this study, we examined the role of cognitive control in reciprocal... View Details
Keywords: Cognitive Control; Ego Depletion; Fairness; Trust Game; Ultimatum Game; Reciprocity; Self-control Failure
Halali, Eliran, Yoella Bereby-Meyer, and Nachshon Meiran. "Between Self-interest and Reciprocity: The Social Bright Side of Self-control Failure." Journal of Experimental Psychology: General 143, no. 2 (April 2014): 745–754.
- Program
Changing the Game
Learn More Key Benefits This program improves your performance in a wide range of competitive transactions. You will return to your company ready to make the right moves during negotiations and become a skilled representative your organization can View Details
- January 2005 (Revised March 2007)
- Background Note
Game Theory and Business Strategy
By: Felix Oberholzer-Gee and Dennis A. Yao
Provides a brief introduction to the application of game theory to business settings. Sets up and analyzes a minicase involving commitment. View Details
Oberholzer-Gee, Felix, and Dennis A. Yao. "Game Theory and Business Strategy." Harvard Business School Background Note 705-471, January 2005. (Revised March 2007.)
- 28 Sep 2012
- News