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The Nash program is an important research agenda initiated in Nash (Econometrica 21:128-140, 1953) in order to bridge the gap between the noncooperative and cooperative counterparts of game theory. The program is thus turning sixty-seven years old, but I will argue it is not ready for...
Persistent link: https://www.econbiz.de/10012503895
Each period, a principal must assign one of two agents to a new task. Profit is stochastically higher when the agent is qualified for the task, but the principal cannot observe qualification. Her only decision is which of the two agents to assign, if any, given the public history of selections...
Persistent link: https://www.econbiz.de/10012587357
Modern information technologies make it possible to store, analyze, and trade unprecedented amounts of detailed information about individuals. This has led to public discussions on whether individuals' privacy should be better protected by restricting the amount or the precision of information...
Persistent link: https://www.econbiz.de/10012806565