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Learning to play best response in duopoly games
Wenzelburger, Jan - 2003
We consider a quantity-setting duopoly market where firms lack perfect knowledge of the market demand function. They use estimated and therefore misspecified demand functions instead and determine their optimal strategies from the corresponding subjective payoff functions. The central issue of...
Persistent link: https://www.econbiz.de/10009452463
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Learning by trial and error
Young, H. Peyton - 2008
version of this idea, called interactive trial and error learning, which has the property that it implements Nash equilibrium …), the method requires no statistical estimation. Unlike a learning procedure proposed by Hart and Mas-Colell (2006), it … requires no knowledge of the other players' actions: learning proceeds purely by responding to one's own payoff history. The …
Persistent link: https://www.econbiz.de/10009441532
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The market for preferences
Earl, PE; Potts, J - 2004
Learning processes are widely held to be the mechanism by which boundedly rational agents adapt to environmental … preferences arises when environmental complexity overwhelms learning possibilities and leads agents to make use of other people …
Persistent link: https://www.econbiz.de/10009448633
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Great Lakes Pork, Inc. establishing a cross-border pork production company
Phelps, Joel - 2009
Master of Agribusiness
Persistent link: https://www.econbiz.de/10009463986
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Learning from the Expectations of Others
Granato, Jim; Guse, Eran A; Wong, M C Sunny - 2006
properties of boundedly rational heterogeneous agents. We combine an adaptive learning process in a modified cobweb model within …
Persistent link: https://www.econbiz.de/10009442020
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On the strategic use of attention grabbers
Kfir Eliaz; Ran Spiegler - Department of Economics, Brown University; Department … - 2011
[This item is a preserved copy. To view the original, visit http://econtheory.org/] When a firm decides which products to offer or put on display, it takes into account the products' ability to attract attention to the brand name as a whole. Thus, the value of a product to the firm emanates from...
Persistent link: https://www.econbiz.de/10009455285
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Die Verarbeitung von Gewinn- und Verlusterfahrungen in spezifischen Entscheidungs- und Spielsituationen
Schröder, Andreas - 2008
In der betriebswirtschaftlichen Realität werden riskante Entscheidungen meistens nach vorherigen Gewinn- oder Verlusterfahrungen getroffen und empirische Beobachtungen legen nahe, dass vorherige derartige Erfahrungen das aktuelle Risikoverhalten beeinflussen. Da dieser Umstand in den...
Persistent link: https://www.econbiz.de/10009467104
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Toward Better Defining the Field of Agribusiness Management
Ng, Desmond W.; Siebert, John W. - 2009
www.ifama.org
Persistent link: https://www.econbiz.de/10009483593
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An Experimental Study of Executive Decision-making with Implications for Decision Support
Ow, Terence T; Morris, James G - 2010
Past research in the field of information systems has explored factors and conditions that are relevant to decision-making in many contexts. However, very little is known about how executives consider, weigh, and integrate these factors. One current school of thought holds that intuition and...
Persistent link: https://www.econbiz.de/10009484511
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ASYMMETRY IN RAW MILK SAFETY PERCEPTIONS AND INFORMATION: IMPLICATIONS FOR RISK IN FRESH PRODUCE MARKETING AND POLICY
Knutson, Ronald D.; Currier, Russell W.; Ribera, Luis; … - 2010
Scientific evidence clearly indicates that consumption of raw milk carries substantialdisease-inducing health risks. While federal U.S. policy mandates that milk moving in interstatecommerce be pasteurized; within 41 of 50 states, raw milk can be obtained for consumption.Warning labels...
Persistent link: https://www.econbiz.de/10009442762