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Evolving Automata Negotiate with a Variety of Opponents
Bragt, D.D.B. van; Poutre, J.A. La - Society for Computational Economics - SCE - 2001
with different preferences. We show that such flexible and powerful bargaining agents can be obtained using the combination … of finite automata and evolutionary algorithms (EAs). Finite automata allow the bargaining agents to behave differently … against different opponents. EAs can be used to adapt the agents' bargaining strategies (consisting of finite automata) in …
Persistent link: https://www.econbiz.de/10005345571
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Formal and Informal Markets: A Strategic and Dynamic Perspective
Anbarci, Nejat; Gomis-Porqueras, Pedro; Pivato, Marcus - Deakin University, Faculty of Business and Law, School … - 2013
In formal markets, to attract buyers, sellers must publicly advertise their prices and locations. But in informal markets, sellers must remain anonymous from government authorities. Since agents' payoffs depend on the ratio of buyers and sellers in each of these markets, all agents try to...
Persistent link: https://www.econbiz.de/10010717399
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Inferring Strategies from Observed Actions: A Nonparametric Binary Tree Classification Approach
Engle-Warnick, Jim - EconWPA - 2000
This paper introduces a nonparametric binary classification tree approach to inferring unobserved strategies from the observed actions of economic agents. The strategies are in the form of possibly nested if- then statements. We apply our approach to experimental data from the repeated ultimatum...
Persistent link: https://www.econbiz.de/10005407882
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EQUILIBRIUM SELECTION IN THE NASH DEMAND GAME. AN EVOLUTIONARY APPROACH
Santamaria-Garcia, Juana - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2004
the time coincides with the Nash bargaining solution. Depending on the matching scenario, either the symmetric or the … generalized Nash bargaining solution is selected. In the latter case, the power is larger for the short-side of the market. …
Persistent link: https://www.econbiz.de/10005731434
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Bargaining, search, and outside options
Gantner, Anita - 2007
This paper studies a two-sided incomplete information bargaining model between a seller and a buyer. The buyer has an … outside option, which is modeled as a sequential search process during which he can also choose to return to bargaining at any …, in contrast to bargaining with complete information, the option to return to bargaining is not redundant in equilibrium …
Persistent link: https://www.econbiz.de/10010293421
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Transparency and price formation
Kaya, Ayça; Liu, Qingmin - In: Theoretical Economics 10 (2015) 2, pp. 341-383
bargaining model of price formation with asymmetric information. Under natural assumptions on type distributions, and for any …
Persistent link: https://www.econbiz.de/10011599543
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A stochastic multiple players multi-issues bargaining model for the Piave river basin
Sgobbi, Alessandra; Carraro, Carlo - 2007
The objective of this paper is to investigate the usefulness of non-cooperative bargaining theory for the analysis of … multilateral, multiple issues, non-cooperative bargaining model of water allocation in the Piave River Basin, in the North East of … problem and conduct comparative static analyses to assess sources of bargaining power. Finally, we explore the implications of …
Persistent link: https://www.econbiz.de/10010264274
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Transparency and price formation
Kaya, Ayça; Liu, Qingmin - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 2, pp. 341-383
bargaining model of price formation with asymmetric information. Under natural assumptions on type distributions, and for any …
Persistent link: https://www.econbiz.de/10011673489
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Modelling Negotiated Decision Making: a Multilateral, Multiple Issues, Non-Cooperative Bargaining Model with Uncertainty
Carraro, Carlo; Sgobbi, Alessandra - Dipartimento di Economia, Università Ca' Foscari Venezia - 2007
The relevance of bargaining to everyday life can easily be ascertained, yet the study of any bargaining process is … on some dimensions of the bargaining process – asymmetries and uncertainties in particular – by using a non … most economic situations, uncertainty crucially affects also bargaining processes. Therefore, in our analysis, we introduce …
Persistent link: https://www.econbiz.de/10005057184
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Transparency and price formation
Kaya, Ayça; Liu, Qingmin - In: Theoretical Economics 10 (2015) 2
bargaining model of price formation with asymmetric information. Under natural assumptions on type distributions, and for any …
Persistent link: https://www.econbiz.de/10010765118