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The Use of a Simple Decision Rule in Repeated Oligopoly Games
Edman, Jan - Society for Computational Economics - SCE - 2004
The Use of a Simple Decision Rule in Repeated Oligopoly Games Much interest has been directed towards decision rules and conditions when firms make decisions converging to a non-cooperative Nash equilibrium in repeated oligopoly games. We explore the use of a simple decision rule where firms...
Persistent link: https://www.econbiz.de/10005537611
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Numerical Analysis of Asymmetric First Price Auctions
Gayle, Wayne-Roy - Society for Computational Economics - SCE - 2005
We develop a powerful and user-friendly program for numerically solving first price auction problems where an arbitrary … the assumption of first order stochastic dominance, the first price auction generates higher expected revenue to the … seller, while the second price auction is more susceptible to collusive activities. However, when the assumption of first …
Persistent link: https://www.econbiz.de/10005345063
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Reserve Price Auctions with a Strong Bidder
Unver, M. Utku; Elbittar, A. Alexander - Society for Computational Economics - SCE - 2001
. Consider an auction model, in which bidders draw their values from the same distribution, but then identity of the high … second-price auction. In their paper, Landsberger, et al. only consider the first-price auction without the seller's reserve … the first-price auction, the analytically intractable equilibrium is approximated using computational techniques …
Persistent link: https://www.econbiz.de/10005345572
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A constraint programming agent for automated trading
Aurell, E.; Boman, M.; Carlsson, M.; Eriksson, J.; Finne, N. - Society for Computational Economics - SCE - 2002
Persistent link: https://www.econbiz.de/10005345481
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The Impacts of Fragmented Volatilities by Learning about Predictability in the Real Options Approach
Kijima, Masaaki; Shibata; Takashi - Society for Computational Economics - SCE - 2004
This paper examines the effects of uncertainty through dynamic learning about the firm's project value in the real options framework. We extend the real options framework with incomplete information by allowing an unobserved state variable that drives profits to follow a stochastic process with...
Persistent link: https://www.econbiz.de/10005706554
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Cognitive Learning and the Emergence of Cooperation - An Simulation Approach
Brenner, Thomas - Society for Computational Economics - SCE - 2004
In this paper it is argued that whether cooperation is established in a prisoner's dilemma-like situation is determined by cognitive learning processes. To prove this claim a simulation model is build. This model is based on knowledge about the cognitive learning process that has been gained in...
Persistent link: https://www.econbiz.de/10005345296
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An evolutionary approach to the El Farol game
Tuinstra, J.; Dindo, P.; Hommes, C.H. - Society for Computational Economics - SCE - 2004
A well known problem in economics is to describe properly a situation where N agents are repeatedly competing to use the same limited resource. A version of this problem is known in the literature as the El Farol game: week after week N agents face the decision whether to go or not to go to a...
Persistent link: https://www.econbiz.de/10005537605
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Evolution of Cooperative Networks and the Emergence of Leadership
Zimmermann, M.G.; Eguiluz, V. M. - Society for Computational Economics - SCE - 2001
A generic property of biological, social and economical networks is their ability to evolve in time, creating or supressing links. We model this situation with an adaptive network of agents playing a Prisoner's Dilemma game. Each agent plays with its local neighbors, collects an aggregate payoff...
Persistent link: https://www.econbiz.de/10005537766
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From Heterogeneous expectations to exchange rate dynamic:
Protin, Philippe; Neuberg, Luc; Louargant, Christine - Society for Computational Economics - SCE - 2004
The purpose of this paper is to analyze how heterogeneous behaviors of agents influence the exchange rates dynamic in the short and long terms. We examine how agents use the information and which kind of information, in order to take theirs decisions to form an expectation of the exchange rate....
Persistent link: https://www.econbiz.de/10005537618
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Nonparametric Identification and Estimation of Multi-Unit, Sequential, Oral, Ascending-Price Auctions with Asymmetric Bidders
Paarsch, Harry J.; Brentstrup, Bjarne - Society for Computational Economics - SCE - 2004
previous stages of the auction are observed, we demonstrate nonparametric identification and then propose a semi … were a Dutch auction employed instead …
Persistent link: https://www.econbiz.de/10005345301