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We address the problem of learning and implementation on the Internet. When agents play repeated games in distributed … environments like the Internet, they have very limited {\em a priori} information about the other players and the payoff matrix … the essential properties that constitute ``reasonable'' learning behavior in distributed environments. We then study the …
Persistent link: https://www.econbiz.de/10010334355
We address the problem of learning and implementation on the Internet. When agents play repeated games in distributed … environments like the Internet, they have very limited {\em a priori} information about the other players and the payoff matrix … the essential properties that constitute ``reasonable'' learning behavior in distributed environments. We then study the …
Persistent link: https://www.econbiz.de/10011577247
equilibrium. Finally, I provide a revelation principle for supermodular implementation in environments with general preferences. …
Persistent link: https://www.econbiz.de/10011599433
equilibrium. Finally, I provide a revelation principle for supermodular implementation in environments with general preferences. …
Persistent link: https://www.econbiz.de/10011695244
equilibrium. Finally, I provide a revelation principle for supermodular implementation in environments with general preferences. …
Persistent link: https://www.econbiz.de/10008478967
-post implementation may not be possible. We propose direct (Bayesian) mechanisms that are robust to certain forms of bounded rationality … conditions for supermodular implementation in unique equilibrium. …
Persistent link: https://www.econbiz.de/10010719489
Using belief elicitation, the paper investigates the formation and the evolution of beliefs in a signalling game in which a common prior on Sender's type is not induced. Beliefs are elicited about the type of the Sender and about the strategies of the players. The experimental subjects often...
Persistent link: https://www.econbiz.de/10009535526
We propose a framework in order to econometrically estimate case-based learning and apply it to empirical data from … twelve 2 × 2 mixed strategy equilibria experiments. Case-based learning allows agents to explicitly incorporate information …-based learning to other learning models (reinforcement learning and self-tuned experience weighted attraction learning) while using …
Persistent link: https://www.econbiz.de/10012432206
One reason for firms to voluntarily increase their environmental or social production standards is to prevent consumers from lobbying for stricter mandatory standards. In this sense, voluntary overcompliance serves as a Greek gift, as consumers might be worse off in the end. Strategically, a...
Persistent link: https://www.econbiz.de/10011327885
The use of coarse categories is prevalent in various situations and has been linked to biased economic outcomes, ranging from discrimination against minorities to empirical anomalies in financial markets. In this paper we study economic rationales for categorizing coarsely. We think of the way...
Persistent link: https://www.econbiz.de/10011380993