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Compte, Oliver; Postlewaite, Andrew - Department of Economics, University of Pennsylvania - 2010

There is a large repeated games literature illustrating how future interactions provide incentives for cooperation … in which players accomplish cooperation in an intuitively plausible fashion. Players process information via a mental …

Persistent link: https://www.econbiz.de/10011127922

Plausible Cooperation,Third Version

Compte, Olivier; Postlewaite, Andrew - Department of Economics, University of Pennsylvania - 2010

There is a large repeated games literature illustrating how future interactions provide incentives for cooperation … unrealistically complex. We set out a model in which players accomplish cooperation in an intuitively plausible fashion. Players …

Persistent link: https://www.econbiz.de/10010822916

Cooperation in Large Societies, Second Version

Dilmé, Francesc - Department of Economics, University of Pennsylvania - 2012

This paper investigates how cooperation can be sustained in large societies even in the presence of agents who never … other. We introduce and characterize a class of equilibria, named linear equilibria, in which cooperation takes place … when the society is large, and which generate smooth dynamics of the expected average level of cooperation. Unlike …

Persistent link: https://www.econbiz.de/10010791596

Effecting Cooperation

Compte, Olivier; Postlewaite, Andrew - Department of Economics, University of Pennsylvania - 2007

There is a large repeated games literature illustrating how future interactions provide incentives for cooperation … cooperation in an intuitively plausible fashion. Players process information via a mental system — a set of psychological states …

Persistent link: https://www.econbiz.de/10004999026

Cooperation in Large Societies

Dilmé, Francesc - Department of Economics, University of Pennsylvania - 2012

Consider the following situation involving two agents who belong to a large society. One of the agents needs help to avoid a big loss. The other agent may either incur a low cost to help him or do nothing. If agents do not recognize each other, providing incentives for socially optimal behavior...

Persistent link: https://www.econbiz.de/10010541088

Plausible Cooperation, Second Version

Postlewaite, Andrew; Compte, Olivier - Department of Economics, University of Pennsylvania - 2009

Persistent link: https://www.econbiz.de/10008763761

Failing Institutions Are at the Core of the U.S. Financial Crisis

Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2012

This paper uses the structure of institutional economics to provide an explanation of the recent U.S. financial crisis. Institutional theory suggests that a county’s political, legal, social, and cultural institutions determine and characterize its economy. An institutional perspective of...

Persistent link: https://www.econbiz.de/10010822915

Probabilities in Economic Modeling

Gilboa, Itzhak; Postlewaite, Andrew; Schmeidler, David - Department of Economics, University of Pennsylvania - 2007

Economic modeling assumes, for the most part, that agents are Bayesian, that is, that they entertain probabilistic beliefs, objective or subjective, regarding any event in question. We argue that the formation of such beliefs calls for a deeper examination and for explicit modeling. Models of...

Persistent link: https://www.econbiz.de/10005102106

Rationality of Belief Or: Why Savage's axioms are neither necessary nor sufficient for rationality, Second Version

Gilboa, Itzhak; Postlewaite, Andrew; Schmeidler, David - Department of Economics, University of Pennsylvania - 2004

Economic theory reduces the concept of rationality to internal consistency. The practice of economics, however, distinguishes between rational and irrational beliefs. There is therefore an interest in a theory of rational beliefs, and of the process by which beliefs are generated and justified....

Persistent link: https://www.econbiz.de/10005109592

Fact-Free Learning

Aragones, Enriqueta; Gilboa, Itzhak; Postlewaite, Andrew; … - Department of Economics, University of Pennsylvania - 2003

People may be surprised by noticing certain regularities that hold in existing knowledge they have had for some time. That is, they may learn without getting new factual information. We argue that this can be partly explained by computational complexity. We show that, given a database, finding a...

Persistent link: https://www.econbiz.de/10005061908