Showing 1 - 10 of 37
Fictitious play is the classical myopic learning process, and games with strategic complementarities are an important class of games including many economic applications. Knowledge about convergence properties of fictitious play in this class of games is scarce, however. Beyond dominance...
Persistent link: https://www.econbiz.de/10005407536
What modern game theorists describe as 'fictitious play' is not the learning process George W. Brown defined in his 1951 paper. His original version differs in a subtle detail, namely the order of belief updating. In this note we revive Brown's original fictitious play process and demonstrate...
Persistent link: https://www.econbiz.de/10005062395
Fictitious play is the oldest and most studied learning process for games. Since the already classical result for zero-sum games, convergence of beliefs to the set of Nash equilibria has been established for some important classes of games, including weighted potential games, supermodular games...
Persistent link: https://www.econbiz.de/10005550859
It is known that every continuous time fictitious play process approaches equilibrium in every nondegenerate 2x2 and 2x3 game, and it has been conjectured that convergence to equilibrium holds generally for 2xn games. We give a simple geometric proof of this.
Persistent link: https://www.econbiz.de/10005550959
Given that Information Technology (IT) security has emerged as an important issue in the last few years, the subject of security information sharing among firms, as a tool to minimize security breaches, has gained the interest of practitioners and academics. To promote the disclosure and sharing...
Persistent link: https://www.econbiz.de/10005076885
Focused on the case of China’s financial development, the present discursive essay sets out to argue that if the … particular context of China’s economic development goals and concludes that although the Chinese financial system is not …. Furthermore, in order to reconcile China’s financial efficiency-growth apparent paradox, the essay supports the view that …
Persistent link: https://www.econbiz.de/10005407709
Participation in Infrastructure in China, Laws and Regulations for Private Participation in Infrastructure in China, Financing … Private Infrastructure Projects in China, Road Issues and Recommendations, Water Issues and Recommendations, Power Generation … suitable projects. The report compares China’s experiences with those of developing and industrial countries and offers …
Persistent link: https://www.econbiz.de/10005407848
The book encapsulates the ways and means of doing business with China, and the opportunities out there. It reveals how … China has transformed itself for the investors by creating a friendly environment; but,nevertheless, cultural and social … aspects must not be forgotten while dealing with them. The book is divided into four parts. These are: • The China Triangle …
Persistent link: https://www.econbiz.de/10005408008
This paper estimates the effects of trade integration between China and Mercosur on employment. The case of Argentina … labor demand elasticities in order to estimate the effects of trade with China on the employment rate. According to this …, trade with China did not have a significant effect on industrial employment, even in a period of swift trade liberalization …
Persistent link: https://www.econbiz.de/10005408025
economic outcomes in China. In this article, we construct a set of (rural, urban, total) provincial- level spatial price … provide illustrations of the significant effect of ignoring spatial price differences in the analysis of China’s economy. …
Persistent link: https://www.econbiz.de/10005413246