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A Reason for Unreason: Returns-Based Beliefs in Game Theory

Velu, C.; Iyer, S.; Gair, J.R. - Faculty of Economics, University of Cambridge - 2010

Players cooperate in experiments more than game theory would predict. We introduce the ‘returns-based beliefs’ approach: the expected returns of a particular strategy in proportion to total expected returns of all strategies. Using a decision analytic solution concept, Luce’s (1959)...

Persistent link: https://www.econbiz.de/10008673581

The Rationality of Irrationality for Managers: Returns- Based Beliefs and the Traveller’s Dilemma

Velu, C.; Iyer, S. - Faculty of Economics, University of Cambridge - 2008

This paper discusses the importance of paradoxes of irrationality for managers by elaborating upon the rational basis for the adoption of non-equilibrium strategies in game theory. It does so by revisiting the one-shot Traveler's Dilemma game, proposing a solution which reconciles the anomaly...

Persistent link: https://www.econbiz.de/10005783830

Strategy Learning in 3x3 Games by Neural Networks

Sgroi, D.; Zizzo, D. J. - Faculty of Economics, University of Cambridge - 2002

This paper presents a neural network based methodology for examining the learning of game-playing rules in never-before seen games. A network is trained to pick Nash equilibria in a set of games and then released to play a larger set of new games. While faultlessly selecting Nash equilibria in...

Persistent link: https://www.econbiz.de/10005489367

Returns-Based Beliefs and The Prisoner’s Dilemma

Velu, C.; Iyer, S. - Faculty of Economics, University of Cambridge - 2008

Returns-based beliefs provides an explanation for the anomaly between the theory and empirics for the one-shot and finitely-repeated Prisoner’s Dilemma games. Even in a fully specified game, there is strategic uncertainty as players attempt to coordinate their actions. Therefore players form...

Persistent link: https://www.econbiz.de/10005207804

Communication and Marketing of Services by Religious Organizations in India

Iyer, S.; Velu, C.; Mumit, A. - Faculty of Economics, University of Cambridge - 2010

channels more extensively in response to information received about competitors. Additionally, intensive market competition …

Persistent link: https://www.econbiz.de/10008545812

Bank Concentration: Chile and International Comparisons.

Levine, R. - Faculty of Economics, University of Cambridge - 2000

development, industrial competition, political and legal system integrity, economic growth or banking sector fragility. The paper …

Persistent link: https://www.econbiz.de/10005776872

Competition, Corporate Governance and Financing of corporate Growth in Emerging Markets

Glen, J.; Lee, K.; Singh. A. - Faculty of Economics, University of Cambridge - 2000

sector's expanding role in developing countries in general have focused attention on issues of competition, corporate … product market competition in seven emerging economies by time series analysis of persistence of corporate profitability … during the 1980s and 90s. The surprising central finding is that the intensity of competition in emerging markets is no less …

Persistent link: https://www.econbiz.de/10005783704

‘UK domestic energy contracts, the 28 day rule, and experience in Sweden’

Littlechild, S. - Faculty of Economics, University of Cambridge - 2004

transitional protection for customers and for competition. This paper reviews the arguments for and against the 28 day rule, and … protect competition. …

Persistent link: https://www.econbiz.de/10005783746

Ownership Unbuilding in Electricity Markets - A Social Cost Benefit Analysis of the German TSO'S

Brunekreeft, G. - Faculty of Economics, University of Cambridge - 2008

competitive concept. The analysis models some 15 effects, grouped in three categories: the competition effect, the interconnector …

Persistent link: https://www.econbiz.de/10005783773

Regulatory Challenges to European Electricity Liberalisation

Newbery, D. - Faculty of Economics, University of Cambridge - 2002

The European Commission proposed to reform the Electricity and Gas Directives to improve access to transmission, increase cross-border capacity, and fully open the electricity and gas markets. The California electricity crisis has weakened support for liberalisation, removed the commitment to...

Persistent link: https://www.econbiz.de/10005783844