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We present a model of learning in which agents learn from errors. If an action turns out to be an error, the agent … an acceptable solution is asymptotically reached. Moreover, one can take advantage of big errors for a faster learning. …
Persistent link: https://www.econbiz.de/10005572182
Persistent link: https://www.econbiz.de/10000750398
Persistent link: https://www.econbiz.de/10003298597
This paper presents results of repeated economic lab experiments. They were designed to test a model of combinatorial … bidder can more fully express his preferences. This is particular important when items are complements. In the experiment …. The design of the laboratory experiment is presented in the next section and the results are shown in the last section. …
Persistent link: https://www.econbiz.de/10009147148
This paper presents the basics of the Transaction cost theory (TCT) and shows it's contribution to the Theory of the … TCT mainly by O. E. Williamson. The theory is based on asset specificity. The formal model with the human asset …
Persistent link: https://www.econbiz.de/10009401149
Results of a survey concerning the importance of quality management of the educational process among high officials of Czech universities and colleges are summarized in this article. Three of possible methods of quality management in the educational process are described here: Standardization...
Persistent link: https://www.econbiz.de/10005258340
Our rapidly changing world has been challenging insurers to keep the pace. Given the qualitative changes in risk trends, the insurance industry has encountered a problem of insurability limits and shifting boundaries of the private insurance sector. The possibilities of covering enormous...
Persistent link: https://www.econbiz.de/10009021820
competing explanations of that fact, the human capital theory and the signaling theory. …
Persistent link: https://www.econbiz.de/10009398915
The article contests an argument that the creation of a capital market in educational "human capital" and subsequent voluntary transactions on this market are sufficient to create equal opportunities in education, consequently reducing the income premium enjoyed by households with higher initial...
Persistent link: https://www.econbiz.de/10009294039
The authors of the article point out that the theory of economics has failed to yield a solid theoretical background in …
Persistent link: https://www.econbiz.de/10008752946