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We analyze the social and private learning at the symmetric equilibria of a queueing game with strategic … experimentation. An infinite sequence of agents arrive at a server which processes them at an unknown rate. The number of agents … evolution of the queue after they arrive; they, therefore, solve a strategic experimentation problem when deciding how long to …
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not self-learning algorithms can learn to collude instead of compete against each other, without violating existing …
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both firms employ the identical price-setting algorithm based on Q-learning. Thus, the question arises whether the … underlying assumption that both firms employ a Q-learning algorithm can be supported as an equilibrium in a game where firms can … chose between different pricing rules. Our simulations show that when both firms use a learning algorithm, the outcome is …
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Despite widespread use in online transactions, rating systems only provide summary statistics of buyers' diverse opinions at best. To investigate the consequences of this coarse form of information aggregation, we consider a dynamic lemons market in which buyers share their evaluations...
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This paper studies dynamic price competition over two periods between two firms selling differentiated durable goods to two buyers who are privately informed about their types, but have valuations of the two goods dependent on the other buyer's type. The firms' pricing strategy in period 1 must...
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