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We describe non-cooperative game models and discuss game theoretic solution<br/>concepts. Some applications are also noted. Conventional theory focuses on the<br/>question ‘how will rational players play?’, and has the Nash equilibrium at its core.<br/>We discuss this concept and its interpretations, as...
Persistent link: https://www.econbiz.de/10011144456
The purpose of this paper is to reexamine the seminal belief elicitation experiment by Nyarko and Schotter (2002) under the prism of pattern recognition. Instead of modeling elicited beliefs by a standard weighted fictitious play model this paper proposes a generalized variant of fictitious...
Persistent link: https://www.econbiz.de/10005011947
This is a draft of a chapter for a book called "Game Theory, 5 Questions," to be published by Automatic Pressed/VIP.Below are five questions and my answers. Any feedback is appreciated.
Persistent link: https://www.econbiz.de/10005588600
Nelson Mandela said, “During my lifetime I have dedicated myself to this struggle of the African people. I have fought against White domination, and I have fought against Black domination. I have cherished the ideal of a democratic and free society in which all persons live together in harmony...
Persistent link: https://www.econbiz.de/10011259042
Persistent link: https://www.econbiz.de/10008925187
The heated debates between proponents of rational-choice, culturalist, and structuralist (or historical institutionalist) analysis over method and substance derive from differences over philosophical issues. This article relates these differences between ideal-typical rationalist, culturalist...
Persistent link: https://www.econbiz.de/10010777900
Economics and culture are in a complex, developing relation to each other. Yet, to introduce 'culture' into economic … theory requires, first of all, an appropriate understanding of culture itself. The crucial point of this paper is that … culture in its development and structure is only understandable if one considers it in connection with the autonomous …
Persistent link: https://www.econbiz.de/10005462951
Persistent link: https://www.econbiz.de/10008673634
The author summarises his intellectual and personal journey from rationality and morality to spirituality. As … Eastern (especially Indian) spirituality he went further to explore the well-spring of rationality, morality and spirituality …
Persistent link: https://www.econbiz.de/10010739741
cooperative program, which some authors refer as to morality, and that we will show that is equivalent to the application of the … provision of the public good, is positive although sub-optimal. Finally, if we compare the rationality of the moral program with …
Persistent link: https://www.econbiz.de/10005403780