Showing 1 - 10 of 10,441
We describe a candid model for learning, why and how learning transpires. We investigate the original as well as the leading conditions of the learning process. We provide an insight into the realm of beliefs and their formation, their interaction and influence with the actor’s environment. In...
Persistent link: https://www.econbiz.de/10005015595
The growing number of auction sites on the internet enable game theorists to ask strategic questions on rationality of the observed bidding behavior. The most popular of them (eBay, Amazon.com, AuctionWatch.com and Yahoo!, etc.) operate under similar sets of rules with seemingly small...
Persistent link: https://www.econbiz.de/10005132879
The IT, the Internet, or the Computing & Communications (C&C) technology revolution has been central to the economic discussion for several decades. Before the mid-1990s the catchword was the “productivity paradox” coined by Robert Solow, who stated in 1987 that “computers are everywhere...
Persistent link: https://www.econbiz.de/10005190446
demand side - at the microeconomic level. We define ten different parameters to account for these five dimensions of …
Persistent link: https://www.econbiz.de/10010894160
To address the neurocognitive mechanisms that underlie choices made after receiving information from an anonymous individual, reaction times (Experiment 1) and event-related brain potentials (Experiment 2) were recorded as participants played 3 variants of the Coin Toss game. In this game,...
Persistent link: https://www.econbiz.de/10012767018
Previous experimental investigations have shown that expectations are not perfectly rational due to several forms of bias. Traditional adaptive models, however, in many cases do not perfectly describe the formation of expectations either. This paper makes two contributions to the experimental...
Persistent link: https://www.econbiz.de/10012720408
Models of rational choice use different definitions of rationality. However, there is no clear description of the latter. We recognize rationality as a conceptual conglomerate where reason, judgment, deliberation, relativity, behavior, experience, and pragmatism interact. Using our definition,...
Persistent link: https://www.econbiz.de/10008459808
solution. The authors perform this experiment with undergraduate students with no previous training in game theory. After four …
Persistent link: https://www.econbiz.de/10005600584
The stock index “point” is a focal component of financial news reports. While much attention is paid to changes in stock index point totals, few people realize that the value of a stock index “point” varies (and has recently declined). We call this perceptual phenomenon “point...
Persistent link: https://www.econbiz.de/10005616574
learning problem in a model with discontinuous demand. Experimentation with a flexible technology induces a bias in product …
Persistent link: https://www.econbiz.de/10005696989