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investigation into a notion of feasibility that reflects varying degree of bounded rationality over time. Such concept must entail … properties of a strategy, or a set of strategies, that depend on time. Specifically, we associate to each subset Ψ<sub>i</sub> of … of bounded rationality that may be alleviated, or intensified, over time. We examine how the growth rate of <FONT FACE …
Persistent link: https://www.econbiz.de/10005459381
This work studies the value of two-person zero-sum repeated games in which at least one of the players is restricted to (mixtures of) bounded recall strategies. A (pure) k-recall strategy is a strategy that relies only on the last k periods of history. This work improves previous results...
Persistent link: https://www.econbiz.de/10010597538
potential increased vulnerability in economic systems. To do so we draw on concepts from information theory, robust system … potentielle accrue au sein des systèmes économiques. Pour ce faire, nous nous appuyons sur les concepts issus de la théorie de l …
Persistent link: https://www.econbiz.de/10005027208
d'optimisation défini sur l'ensemble des distributions de probabilités sous contraintes d'entropie. Cette article offre …
Persistent link: https://www.econbiz.de/10011072800
€œcommitment†types, and who faces a succession of short-lived players. We use entropy-based arguments both to establish a lower bound on …
Persistent link: https://www.econbiz.de/10011255417
A (pure) strategy in a repeated game is a mapping from histories, or, more generally, signals, to actions. We view the implementation of such a strategy as a computational procedure and attempt to capture in a formal model the following intuition: as the game proceeds, the amount of information...
Persistent link: https://www.econbiz.de/10005342187
complexity of the finite automata and the entropy associated to the underlying coordination process. The equilibrium play … designed by tools of Information Theory. Moreover, the characterization of this set is given by the complexity of the weaker …
Persistent link: https://www.econbiz.de/10005731211
We study a repeated game with asymmetric information about a dynamic state of nature. In the course of the game, the better informed player can communicate some or all of his information with the other. Our model covers costly and/or bounded communication. We characterize the set of equilibrium...
Persistent link: https://www.econbiz.de/10005731241
Ziel des Beitrags ist es, die Rationalität von Stakeholdern des Agribusiness mit einem Entscheidungsexperiment zu analysieren. Dazu wurden Landwirte und Agrarhändler3 gebeten, Lotterielose zu bewerten. So konnte die Konsistenz im Risikoverhalten und die Präzision im Umgang mit Information...
Persistent link: https://www.econbiz.de/10009326502
underlying distribution maximize Shannon entropy. I derive the optimal stopping rule and equilibrium price distribution of the …
Persistent link: https://www.econbiz.de/10010717765