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Bargaining and dilemma games have developed in experimental economics as fairly separate literatures. More than a few analysts are now persuaded that the patterns of behavior in these games are closely related, and considerable effort is being put into a search for models that bridge the gap...
Persistent link: https://www.econbiz.de/10005711679
Economists traditionally tackle normative problems by computing optimal policy, i.e. the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I...
Persistent link: https://www.econbiz.de/10005822405
Recent literature has questioned the existence of a learning foundation for the partially cursed equilibrium. This …
Persistent link: https://www.econbiz.de/10005765162
The evolution of boundedly rational rules for playing normal form games is studied within stationary environments of stochastically changing games. Rules are viewed as algorithms prescribing strategies for the different normal form games that arise. It is shown that many of the folk results of...
Persistent link: https://www.econbiz.de/10005772034
different treatments and observe that convergence toward equilibrium is driven by learning through the information about the …
Persistent link: https://www.econbiz.de/10005772514
A learning rule is uncoupled if a player does not condition his strategy on the opponent's payoffs. It is radically …, radically uncoupled learning rules whose period-by-period behavior comes arbitrarily close to Nash equilibrium behavior in any …
Persistent link: https://www.econbiz.de/10005812747
This paper introduces the payoff-confirming analogy-based expectation equilibrium (PCABEE) as a way to refine the set of analogy-based equilibria and the associated admissible analogy partitions. In addition to the actions of others, own payoff history provides information about others’...
Persistent link: https://www.econbiz.de/10008543211
In this methodological work I explore the possibility of explicitly modelling expec-tations conditioning the R&D decisions of firms. In order to isolate this problem from the controversies of cognitive science, I propose a black box strategy through the concept of internal model . The last part...
Persistent link: https://www.econbiz.de/10005133009
This contribution focuses on the simulation of the emergence and evolution of communities of practice, a concept brought forwards originally in sociology in the early 90’s by Lave and Wenger (1990) and Brown and Duguid (1991). In a first part, the main theoretical principles on which relies...
Persistent link: https://www.econbiz.de/10005133011
Persistent link: https://www.econbiz.de/10005136842