Showing 41 - 50 of 529
Persistent link: https://www.econbiz.de/10012062010
Since the early 21st century, air quality concerns in the People's Republic of China (PRC) have garnered significant attention from both the public authorities and society. This study investigates the effects of digital environmental monitoring technology on air pollution. Specifically, we...
Persistent link: https://www.econbiz.de/10015423891
This paper initiates the study of long term interactions where players' bounded rationality varies over time. Time dependent bounded rationality is reflected in part in the number $\psi(t)$ of distinct strategies in the first $t$-stages. We examine how the growth rate of $\psi_i(t)$ affects...
Persistent link: https://www.econbiz.de/10010266360
In this Paper we use agency theory to study the active role of the CEO in the formulation of corporate strategy. We allow the agent (CEO) to play a role in defining the parameters of the agency problem, in an incomplete contracting model in which the agent can be rewarded based only on financial...
Persistent link: https://www.econbiz.de/10005504388
One way to express bounded rationality of a player in a game theoretic models is by specifying a set of feasible strategies for that player. In dynamic game models with finite automata and bounded recall strategies, for example, feasibility of strategies is determined via certain complexity...
Persistent link: https://www.econbiz.de/10005459381
This paper studies a machine (finite automaton) playing a two-player repeated game of a simple extensive-form game with perfect information. We introduce a new complexity measure called multiple complexity which incorporates a strategyʼs responsiveness to information in the stage game as well...
Persistent link: https://www.econbiz.de/10011049832
This paper initiates the study of long term interactions where players' bounded rationality varies over time. Time dependent bounded rationality is reflected in part in the number $\psi(t)$ of distinct strategies in the first $t$-stages. We examine how the growth rate of $\psi_i(t)$ affects...
Persistent link: https://www.econbiz.de/10005626671
Evidence supports the contention that humans find it costly to carry out some sorts of strategies. Such costs are unlikely to be observed directly, but various models have been proposed to represent them. We discuss a method for testing the empirical worth of these models.
Persistent link: https://www.econbiz.de/10005790920
A central question in game theory and artificial intelligence is how a rational agent should behave in a complex environment, given that it cannot perform unbounded computations. We study strategic aspects of this question by formulating a simple model of a game with additional costs...
Persistent link: https://www.econbiz.de/10005252470
In this paper we use agency theory to study the active role of the chief executive in the formulation of corporate strategy. Unlike traditional applications of agency theory, we allow the agent (CEO) to play a role in defining the parameters of the agency problem. We argue that CEOs will have an...
Persistent link: https://www.econbiz.de/10010661432