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This statement outlines the objectives and policies of the new journal, Macroeconomic Dynamics, which is dedicated to the advancement of macroeconomics as a science. This Editorial is to appear at the front of the first issue of that journal and is copyright by Cambridge University Press.
Persistent link: https://www.econbiz.de/10005126416
The backward induction (or subgame-perfect) equilibrium of a perfect information game is shown to be the unique evolutionarily stable outcome for dynamic models consisting of selection and mutation, when the mutation rate is low and the populations are large.
Persistent link: https://www.econbiz.de/10005407617
We exhibit and characterize an entire class of simple adaptive strategies, in the repeated play of a game, having the Hannan- consistency property: In the long-run, the player is guaranteed an average payoff as large as the best-reply payoff to the empirical distribution of play of the other...
Persistent link: https://www.econbiz.de/10005550971
The equalization of profit rates across a multisector production economy subject to Nash bargaining over wages supports …
Persistent link: https://www.econbiz.de/10005556728
of achievable legislative outcomes, which, in turn, alters the bargaining power of key House members. A corollary …
Persistent link: https://www.econbiz.de/10005408424
The resolution of a conflict often has an impact which extends beyond the remits of the parties directly involved in the confrontation (e.g. labour negotiations in sectors of public interest, where a strike would impact on the public at large). Once this is recognised, models addressing...
Persistent link: https://www.econbiz.de/10005407596
This article proposes a method for considering the bargaining agenda as an endogenous phenomenon in gradual bargaining … games, understood as being path-dependent processes. Some short, medium and long-term results for bargaining are presented …
Persistent link: https://www.econbiz.de/10005550892
explanation for delays in bargaining. …-inconsistent players in a sequential bargaining model. We first consider 'naive' agents who never learn about their types and show that … bargaining between such a player and a standard exponential agent ends in immediate agreement. The more naive a player, the …
Persistent link: https://www.econbiz.de/10005550915
We propose a new framework for bargaining in which the process follows an agenda. The agenda is represented by a family … \emph{bargaining solution} for an agenda specifies a path of agreements, one for each time. We characterize axiomatically a …. It can be viewed as the limit of a step-by-step bargaining process in which the agreement point of the last negotiation …
Persistent link: https://www.econbiz.de/10005118569
This paper shows that altruism may be beneficial in bargaining when there is competition for bargaining partners. In a …
Persistent link: https://www.econbiz.de/10005124853