Showing 381 - 390 of 443
We study conditions relating to the impossibility of agreeing to disagree in models of interactive KD45 belief (in contrast to models of S5 knowledge, which are used in nearly all the agreements literature). Agreement and disagreement are studied under models of belief in three broad settings:...
Persistent link: https://www.econbiz.de/10010617810
The problem of disagreement asks about the appropriate response (typically the response of a peer) upon encountering a disagreement between peers. The responses proposed in the literature offer different solutions to the problem, each of which has more or less normative appeal. Yet none of these...
Persistent link: https://www.econbiz.de/10010617811
Market share and quality, or customer satisfaction, go hand in hand. Yet the inference that higher market share indicates higher quality is seldom made. The skepticism is in part fueled by elitism, the association of mass popularity with lower quality, and by cynicism, ascribing market...
Persistent link: https://www.econbiz.de/10009364308
In this paper we analyze judgement aggregation problems in which a group of agents independently votes on a set of complex propositions that has some interdependency constraint between them (e.g., transitivity when describing preferences). We consider the issue of judgement aggregation from the...
Persistent link: https://www.econbiz.de/10009364958
Maskin and Riley (2003) and Lebrun (2006) prove that the Bayes-Nash equilibrium of first-price auctions is unique. This uniqueness requires the assumption that a buyer never bids above his value. We demonstrate that, in asymmetric first-price auctions (with or without a minimum bid), the...
Persistent link: https://www.econbiz.de/10009364959
We develop an elasticity index of a strategic game. The index measures the robustness of the set of rational outcomes of a game. The elasticity index of a game is the maximal ratio between the change of the rational outcomes and the size of an infinitesimal perturbation. The perturbation is on...
Persistent link: https://www.econbiz.de/10009364960
We provide a new characterization of implementability of reduced form mechanisms in terms of straightforward second-order stochastic dominance. In addition, we present a simple proof of Matthews' (1984) conjecture, proved by Border (1991), on implementability.
Persistent link: https://www.econbiz.de/10009391680
Reinforcement learning in complex natural environments is a challenging task because the agent should generalize from the outcomes of actions taken in one state of the world to future actions in different states of the world. The extent to which human experts find the proper level of...
Persistent link: https://www.econbiz.de/10009391681
We present an example of a discounted stochastic game with a continuum of states, finitely many players and actions, and deterministic transitions, that possesses no measurable stationary equilibria, or even stationary approximate equilibria. The example is robust to perturbations of the...
Persistent link: https://www.econbiz.de/10009391682
The paper analyzes a perturbation on the players’ knowledge of the game in the traveler’s dilemma, by introducing some uncertainty about the range of admissible actions. The ratio between changes in the outcomes and the size of perturbation is shown to grow exponentially in the range of the...
Persistent link: https://www.econbiz.de/10009391683