Showing 1 - 7 of 7
whether a natural definition of a tree can be given, where nodes are sets of states. We show that, indeed, trees can be …
Persistent link: https://www.econbiz.de/10010292783
Persistent link: https://www.econbiz.de/10012547600
Two finite extensive-form games are empirically equivalent when the empirical distribution on action profiles generated by every behavior strategy in one can also be generated by an appropriately chosen behavior strategy in the other. This paper provides a characterization of empirical...
Persistent link: https://www.econbiz.de/10005827534
The standard model of an extensive form game rules out an important phenomenon in situations of strategic interaction: deception. Using examples from the world of ancient Greece and from modern-day Wall Street, we show how the model can be generalized to incorporate this phenomenon. Deception...
Persistent link: https://www.econbiz.de/10004977857
We construct a dynamic epistemic model for extensive form games, which generates a hierarchy of beliefs for each player over her opponents` strategies and beliefs, and tells us how those beliefs will be revised as the game proceeds. We use the model to analyze the implications of the assumption...
Persistent link: https://www.econbiz.de/10005051126
We consider a principal who is keen to induce his agents to work at their maximal effort levels. To this end, he samples n days at random out of the T days on which they work, and awards a prize of B dollars to the most productive agent. The principal's policy (B,n) induces a strategic game...
Persistent link: https://www.econbiz.de/10005464023
Consider a principal who hires heterogeneous agents to work for him over T periods, without prior knowledge of their respective skills, and intends to promote one of them at the end. In each period the agents choose effort levels and produce random outputs, independently of each other, and are...
Persistent link: https://www.econbiz.de/10005593223