In this paper we analyze competitive decision-making situations in terms of their preference structures and posterior performance, through a Bayesian decision-theoretic framework. The setting is that of a two-by-two, two-person, non-zero-sum and noncooperative game which is repeated over time....

We consider a model of search when the distribution of prices (wages) is unknown. The effect of changing the objective function from minimizing expected cost to maximizing expected utility is examined.

The effect of convex transactions costs on consumers' derived utility functions and on optimal consumption and investment decisions is examined in a general multiperiod framework. The extent to which multiperiod consumption-investment behavior and capital market equilibrium may be studied in a...

A review of the literature from many disciplines reveals conceptual agreement that individuals choose among alternatives by comparing the attributes of the alternatives in a sequential process. Yet in almost all the published empirical work the model used is a simultaneous compensatory model...

Suppose N objects are hidden in m boxes where m is known and N is unknown; for example, suppose that we are hunting for defects (objects) in a system having several components (boxes). Let p = (p₁, p₂, ...) denote the probability distribution of N where p_n = P(N = n). The objects are...