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This paper presents a generalized Stackelberg model of market leaderhip with noisy observation. The current prevailing Stackelberg model and Cournot market are two extreme cases of this generalized Stackelberg model. As the follower relies less on the inaccurate noisy observation and more on...
Persistent link: https://www.econbiz.de/10014158031
This paper proposes a way to solve two (and multiple) sided incomplete information games which generally generates a unique equilibrium. The approach uses iterative conjectures updated by game theoretic and Bayesian statistical decision theoretic reasoning. Players in the games form conjectures...
Persistent link: https://www.econbiz.de/10013103816
This paper proposes a way to solve two sided incomplete information games which generally generates a unique equilibrium. Players in the games form conjectures about what other players want to do, starting from first order uninformative conjectures and keep updating with games theoretic and...
Persistent link: https://www.econbiz.de/10014166874