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of robustness and that the robustness analysis can lead to a reversal of policy preference from the putative optimum …
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We study optimal selling strategies of a seller who is poorly informed about the buyer’s value for the object. When the maxmin seller only knows that the mean of the distribution of the buyer's valuations belongs to some interval then nature can keep him to payoff zero no matter how much...
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distinguish between environments? Robustness comes at the price of targeting actions less narrowly to specific conditions, so we … lose gains from specialization. Need for robustness comes from our limited knowledge. Rational dealing with uncertainty …
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general algorithm for achieving robustness in corporate strategies. This algorithm includes: (1) the clear definition of a …
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