Similar Search Results

Halpern, Joseph Y. - EconWPA - 2000

Modica and Rustichini [Theory and Decision 37, 1994] provided a logic for reasoning about knowledge where agents may be … unaware of certain propositions. However, their original approach had the unpleasant property that nontrivial unawareness was …] have provided an approach that allows for nontrivial unawareness in partitional information structures. Here it is shown …

Persistent link: https://www.econbiz.de/10005118557

Meta-Communication and Market Dynamics. Reflexive Interactions of Financial Markets and the Mass Media

Schuster, Thomas - EconWPA - 2003

A widely held belief in financial economics suggests that stock prices always adequately reflect all available information. Price movements away from fundamentals are assumed to occur only infrequently, if at all. „False“ prices are supposed to be corrected by the counter-actions of...

Persistent link: https://www.econbiz.de/10005134753

Costly Coasian Contracts

Anderlini, Luca; Felli, Leonardo - EconWPA - 1996

We identify and investigate the basic `hold-up' problem which arises whenever each party to a contingent contract has to pay some ex-ante cost for the contract to become feasible. We then proceed to show that, under plausible circumstances, a `contractual solution' to this hold-up problem is not...

Persistent link: https://www.econbiz.de/10005062341

Quantum Market Games

Piotrowski, E. W.; Sladkowski, J. - EconWPA - 2001

We propose a quantum-like description of markets and economics. The approach has roots in the recently developed quantum game theory. Quantum Zeno paradoxes and noncomutative quantum mecanics are also discussed.

Persistent link: https://www.econbiz.de/10005407589

OPTIMAL PRICING AND GRANT POLICIES FOR MUSEUMS

Prieto-Rodriguez, Juan; Fernandez-Blanco, Victor - EconWPA - 2003

Considering two potential sources of income (public grants and ticket revenues),we have defined a theoretical model where the public agency is the principal and the manager of the museum is the agent. This model allows us to design the optimal contract between both sides and thus to establish...

Persistent link: https://www.econbiz.de/10005408405

Brown-von Neumann-Nash Dynamics: The Continuous Strategy Case

Hofbauer, Josef; Oechssler, Joerg; Riedel, Frank - EconWPA - 2005

In John Nash’s proofs for the existence of (Nash) equilibria based on Brouwer’s theorem, an iteration mapping is used. A continuous— time analogue of the same mapping has been studied even earlier by Brown and von Neumann. This differential equation has recently been suggested as a...

Persistent link: https://www.econbiz.de/10005062331

Evolutionary Dynamics on Infinite Strategy Spaces

Oechssler, Joerg; Riedel, Frank - EconWPA - 1998

The study of evolutionary dynamics was so far mainly restricted to finite strategy spaces. In this paper we show that this restriction is in most cases unnecessary. We give a mild condition under which the continuous time replicator dynamics are well defined for infinite strategy spaces....

Persistent link: https://www.econbiz.de/10005407530

Lost in Translation? Basis Utility and Proportionality in Games

Feldman, Barry - EconWPA - 2005

Cooperative and noncooperative games have no representation of players's basis utilities. Basis utility is the natural reference point on a player's utility scale that enables the determination the marginal utility of any payoff or allocation. A player's basis utility can be determined by an...

Persistent link: https://www.econbiz.de/10005407599

On the Dynamic Foundation of Evolutionary Stability in Continuous Models

Oechssler, Joerg; Riedel, Frank - EconWPA - 2000

We show in this paper that none of the existing static evolutionary stability concepts (ESS, CSS, uninvadability, NIS) is sufficient to guarantee dynamic stability in the weak topology with respect to standard evolutionary dynamics if the strategy space is continuous. We propose a new concept,...

Persistent link: https://www.econbiz.de/10005550865

The Evolution of Algorithmic Learning Rules: A Global Stability Result

Anderlini, Luca; Sabourian, Hamid - EconWPA - 1995

This paper consider the dynamic evolution of algorithmic (recursive) learning rules in a normal form game. It is shown that the system - the population frequencies - is globally stable for any arbitrary N-player normal form game, if the evolutionary process is algorithmic and the `birth process'...

Persistent link: https://www.econbiz.de/10005550961

1
2
3
4
5
6
7
8
9
10
Next
Last