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We employ the theory of rational choice to examine whether observable choices from feasible sets of prospects can be … generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory …
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This paper develops and estimates a game-theoretical model of inflation targeting where the central banker's preferences are asymmetric around the targeted rate.
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In this paper we will describe a class of three-person games and draw general conclusions about non-cooperative behavior in them.
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Did the recent transition to liberal democracy in Eastern Europe consitute revolutions? Here, game theory is used to …
Persistent link: https://www.econbiz.de/10010616522
A contingent contract in a transferable utility game under uncertainty specifies an outcome for each possible state. It is assumed that coalitions evaluate these contracts by considering the minimal possible excesses. A main question of the paper concerns the existence and characterization of...
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