We improve Stahl's (1996b) model of boundedly rational behavioral rules and rule learning for symmetric normal-form games with unique symmetric Nash equilibria. A player begins with initial propensities on a class of evidence-based behavioral rules, and given experience over time adjusts his/her...

"In the future data communication networks interoperability becomes critical from both technological and business strategy perspective. Significance of interoperability has to be evaluated in terms of the overall economic performance of the system. In this paper we will present our view of the...

This paper augments the theoretical foundations of organized commodity futures markets and uncovers singular facts about arbitrage and the role of information. Using the term "credit agency" to embrace organized futures markets such as the Chicago Board of Trade as well as independent brokerage...

Dominated strategies play a crucial role in game theory and its solution concepts. While empirical studies confirm that humans generally avoid dominated strategies, they also suggest that humans seldom believe others will avoid such strategies. Hence, the iterated dominance solution is not...