Showing 1 - 10 of 10
We report evidence of three types of consumer switching decision errors within the UK electricity market. We identify consumers who do not switch despite substantial available savings, consumers who switch from a cheaper to a more expensive supplier and consumers who switch to a cheaper, but not...
Persistent link: https://www.econbiz.de/10005412867
In environments with no commitment and with a need for intertemporal trade, bounded recall is shown to be a sufficient friction for a receipt system (fiat money) to lead to improved allocations in an otherwise frictionless Walrasian model. The absence of other frictions makes price determination...
Persistent link: https://www.econbiz.de/10005076849
. Furthermore, for most of our stocks the observed regularity in market order submissions seems to have a memory of at least 30 …
Persistent link: https://www.econbiz.de/10005134908
This paper studies the role of memory and communication in games between ongoing organizations. In each organization …, each individual, upon entry into the game, replaces his predecessor who has the same preferences and faces the same … past. However, the Folk Theorem fails for many games when individuals have no prior memory, i.e., no individual can witness …
Persistent link: https://www.econbiz.de/10005550938
We show that for any discount factor, there is a natural number $M$ such that all subgame perfect equilibrium outcomes of the discounted repeated prisoners' dilemma can be obtained by subgame perfect equilibrium strategies with the following property: current play depends only on the number of...
Persistent link: https://www.econbiz.de/10005118584
Human brain has invented the Computer&upgraded it to a level of Combrains. With Artificial Chemical Memory, these may …
Persistent link: https://www.econbiz.de/10005118844
The current optimum population models found in economic literature define static optimum population used in forming policy i.e. at a given instant what should be the optimum number of people in a (closed) economy. We believe that although this definition is useful, it is very limiting as far as...
Persistent link: https://www.econbiz.de/10005125782
making use of endogenous nature of preferences is suggested that is aimed at eliminating risks of terminating being of a … disseminating information about admissible values of strategical commodities, allowing a society to form such preferences of its …
Persistent link: https://www.econbiz.de/10005556578
Voting on unidimensional issues will produce equilibrium outcomes if voter preferences are single peaked. While the …
Persistent link: https://www.econbiz.de/10005556972
individual preferences may help predicting towards which solutions players will converge, at least in a social setting, and … instead on the final payoff and not on its relation to preferences or satisfaction, which are deemed non-measurable. On the … contrary, this work has shown that consistent data emerge by simply asking players to express preferences and satisfaction …
Persistent link: https://www.econbiz.de/10005118521