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We define and discuss Savage games, which are ordinal games of incomplete information set in L. J. Savage's framework of purely subjective uncertainty. Every Bayesian game is ordinally equivalent to a Savage game. However, Savage games are free of priors, probabilities and payoffs. Players'...
Persistent link: https://www.econbiz.de/10013063668
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We define and discuss Savage games, which are ordinal games of incomplete information set in L. J. Savage's framework of purely subjective uncertainty. Every Bayesian game is ordinally equivalent to a Savage game. However, Savage games are free of priors, probabilities and payoffs. Players'...
Persistent link: https://www.econbiz.de/10011671983
Persistent link: https://www.econbiz.de/10012062376
Persistent link: https://www.econbiz.de/10011796659
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We analyze the Bitcoin protocol for electronic peer-to-peer payments and the operations that support the "blockchain" that underpins it. It is shown that the protocol maps formally into a dynamic game that is an extension of standard models of R&D racing. The model provides a technical...
Persistent link: https://www.econbiz.de/10011897884
Persistent link: https://www.econbiz.de/10011900526
We analyze the Bitcoin protocol for electronic peer-to-peer payments and the operations that support the "blockchain" that underpins it. It is shown that that protocol maps formally into a dynamic game that is an extension of standard models of R&D racing. The model provides a technical...
Persistent link: https://www.econbiz.de/10012453472