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In this paper we consider regression models with forecast feedback. Agents' expectations are formed via the recursive estimation of the parameters in an auxiliary model. The learning scheme employed by the agents belongs to the class of stochastic approximation algorithms whose gain sequence is...
Persistent link: https://www.econbiz.de/10008484069
consistency properties. We provide axiomatizations of this class of coalition structure share functions using these consistency …
Persistent link: https://www.econbiz.de/10005281774