Showing 1 - 10 of 805
behavior that emerge in the market as a function of evolutionary learning rate, and to explain these emergent behaviors. We …
Persistent link: https://www.econbiz.de/10005790623
Persistent link: https://www.econbiz.de/10010528438
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390070
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010390395
Persistent link: https://www.econbiz.de/10010235294
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10011421455
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10010398499
This paper shows that price rigidity evolves in an economy populated by imperfectly rational agents who experiment with alternative rules of thumb. In the model, firms must set their prices in face of aggregate demand shocks. Their payoff depends on the level of aggregate demand, as well as on...
Persistent link: https://www.econbiz.de/10011409938
neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …
Persistent link: https://www.econbiz.de/10011261245
Humans differ in their strategic reasoning abilities and in beliefs about others' strategic reasoning abilities. Studying such cognitive hierarchies has produced new insights regarding equilibrium analysis in economics. This paper investigates the effect of cognitive hierarchies on long run...
Persistent link: https://www.econbiz.de/10013472490