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Indifference, indecisiveness, experimentation and stochastic choice
Ok, Efe A.; Tserenjigmid, Gerelt - In: Theoretical Economics 17 (2022) 2, pp. 651-686
Among the reasons behind the choice behavior of an individual taking a stochastic form are her potential indifference or indecisiveness between certain alternatives, and/or her willingness to experiment in the sense of occasionally deviating from choosing a best alternative in order to give a...
Persistent link: https://www.econbiz.de/10014536935
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Regret testing: learning to play Nash equilibrium without knowing you have an opponent
Foster, Dean P.; Young, H. Peyton - In: Theoretical Economics 1 (2006) 3, pp. 341-367
A learning rule is uncoupled if a player does not condition his strategy on the opponent's payoffs. It is radically uncoupled if a player does not condition his strategy on the opponent's actions or payoffs. We demonstrate a family of simple, radically uncoupled learning rules whose...
Persistent link: https://www.econbiz.de/10011599374
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Transitive regret
Bikhchandani, Sushil; Segal, Uzi - In: Theoretical Economics 6 (2011) 1, pp. 95-108
Preferences may arise from regret, i.e., from comparisons with alternatives forgone by the decision maker. We ask … whether regret-based behavior is consistent with non-expected utility theories of transitive choice and show that the answer … is no. If choices are governed by ex ante regret and rejoicing then non-expected utility preferences must be intransitive. …
Persistent link: https://www.econbiz.de/10011599439
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Regret testing: learning to play Nash equilibrium without knowing you have an opponent
Foster, Dean P.; Young, H. Peyton - In: Theoretical Economics 1 (2006) 3, pp. 341-367
A learning rule is uncoupled if a player does not condition his strategy on the opponent's payoffs. It is radically uncoupled if a player does not condition his strategy on the opponent's actions or payoffs. We demonstrate a family of simple, radically uncoupled learning rules whose...
Persistent link: https://www.econbiz.de/10005812747
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Transitive regret
Bikhchandani, Sushil; Segal, Uzi - In: Theoretical Economics 6 (2011) 1
Preferences may arise from regret, i.e., from comparisons with alternatives forgone by the decision maker. We ask … whether regret-based behavior is consistent with non-expected utility theories of transitive choice and show that the answer … is no. If choices are governed by ex ante regret and rejoicing then non-expected utility preferences must be intransitive. …
Persistent link: https://www.econbiz.de/10008568531
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Revenue comparisons for auctions when bidders have arbitrary types
Che, Yeon-Koo; Gale, Ian - In: Theoretical Economics 1 (2006) 1, pp. 95-118
This paper develops a methodology for characterizing expected revenue from auctions when bidders' types come from an arbitrary distribution. In particular, types may be multidimensional, and there may be mass points in the distribution. One application extends existing revenue equivalence...
Persistent link: https://www.econbiz.de/10011599366
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Information, evolution and utility
Swinkels, Jeroen M.; Samuelson, Larry - In: Theoretical Economics 1 (2006) 1, pp. 119-142
Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand <i>why</i> an evolutionary process might optimally lead to such seemingly dysfunctional features...
Persistent link: https://www.econbiz.de/10011599367
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Topologies on types
Dekel, Eddie; Fudenberg, Drew; Morris, Stephen - In: Theoretical Economics 1 (2006) 3, pp. 275-309
We define and analyze a "strategic topology'' on types in the Harsanyi-Mertens-Zamir universal type space, where two types are close if their strategic behavior is similar in all strategic situations. For a fixed game and action define the distance between a pair of types as the difference...
Persistent link: https://www.econbiz.de/10011599372
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Interim correlated rationalizability
Dekel, Eddie; Fudenberg, Drew; Morris, Stephen - In: Theoretical Economics 2 (2007) 1, pp. 15-40
This paper proposes the solution concept of interim correlated rationalizability, and shows that all types that have the same hierarchies of beliefs have the same set of interim-correlated-rationalizable outcomes. This solution concept characterizes common certainty of rationality in the...
Persistent link: https://www.econbiz.de/10011599381
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Subjective expected utility in games
Di Tillio, Alfredo - In: Theoretical Economics 3 (2008) 3, pp. 287-323
This paper extends Savage's subjective approach to probability and utility from decision problems under exogenous uncertainty to choice in strategic environments. Interactive uncertainty is modeled both explicitly, using hierarchies of preference relations, the analogue of beliefs hierarchies,...
Persistent link: https://www.econbiz.de/10011599405