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A Behavioral Approach to Learning in Economics - Towards an Economic Theory of Contingent Learning

Slembeck, Tilman - EconWPA - 1999

In economics, adjustment of behavior has traditionally been treated as a "black box." Recent approaches that focus on learning behavior try to model, test, and simulate specific adjustment mechanisms in specific environments (mostly in games). Results often critically depend on distinctive...

Persistent link: https://www.econbiz.de/10005135048

Learning in Economics: Where Do We Stand?

Slembeck, Tilman - EconWPA - 2000

This paper briefly reviews the current literature on learning in economics from a behavioral point of view. It critically compares theory with aspects of learning in real-life and with evidence from laboratory experiments, and argues that most customary approaches lack criteria for their...

Persistent link: https://www.econbiz.de/10005413284

A new paradigm of economic regulation

Svetlov, Nikolai - EconWPA - 2003

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

Unidimensional Voting and Multidimensional Issues: The Role of Interest Groups

Harvey S. James Jr. - EconWPA - 1996

Voting on unidimensional issues will produce equilibrium outcomes if voter preferences are single peaked. While the …

Persistent link: https://www.econbiz.de/10005556972

"Optimum Population -- A New Look: A Hamiltonian Approach Towards A Dynamic Analysis"

Bokhari, Farasat; McCarthy, George W. - EconWPA - 1996

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

Preferences, Choices, and Satisfaction in a Bargaining Game

Amborino, Angela; Lanteri, Alessandro; Novarese, Marco - EconWPA - 2005

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

STOCK MARKET VALUATION IN THE UNITED STATES

BISCIARI, Patrick; DURRE, Alain; NYSSENS, Alain - EconWPA - 2003

This paper gives an overview of some issues related to market aluation, focusing on the developments on the New York equity markets. The 42.4 p.c. fall in the S&P 500 price index between 24 March 2000 - when it reached its all-time high - and 31 December 2002 is situated in a very long term...

Persistent link: https://www.econbiz.de/10005125064

Modelling Possible Impacts of GM Crops on Australian Trade

Stone, Susan; Matysek, Anna; Dolling, Andrew - EconWPA - 2003

This paper looks at the impact on Australia’s trade in crops (non-wheat grains and oilseeds) where GM technology has been introduced. The model includes assumptions about the productivity gains of GM crops, possible consumer responses and regulatory costs for Australia and its major trading...

Persistent link: https://www.econbiz.de/10005407855

Are "Anti-Folk Theorems" in Repeated Games Nongeneric?

Lagunoff, Roger; Matsui, Akihiko - EconWPA - 1999

Folk Theorems in repeated games hold fixed the game payoffs, while the discount factor is varied freely. We show that these results may be sensitive to the order of limits in situations where players move asynchronously. Specifically, we show that when moves are asynchronous, then for a fixed...

Persistent link: https://www.econbiz.de/10005550877

"Markov Perfect Equilibria in Repeated Asynchronous Choice Games"

Lagunoff, Roger; Haller, Hans - EconWPA - 1997

This paper examines the issue of multiplicity of equilibria in alternating move repeated games with two players. Such games are canonical models of environments with repeated, asynchronous choices due to inertia or replacement. We focus our attention on Markov Perfect equilibria (MPE). These are...

Persistent link: https://www.econbiz.de/10005550884

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