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Informational Cascades with Continuous Action Spaces

Huck, Steffen; Oechssler, Joerg - EconWPA - 1997

The recent literature on informational cascades has nurtured the impression that cascades can occur only if the action space is coarser than the signal space. In particular, it is sometimes claimed that with continuous action spaces cascades are impossible. In this note we present a simple...

Persistent link: https://www.econbiz.de/10005118606

Capital account Liberalization and exchange rate regime choice, What Scope for flexibility in Tunisia ?

Sami, Ben Ali Mohamed - EconWPA - 2005

Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? The adoption by Tunisia of structural reforms of its economy in a context of gradual opening since 1986, had allowed the instauration in January 1993 of the convertibility of its current...

Persistent link: https://www.econbiz.de/10005407508

What restrictions do Bayesian games impose on the value of information?

Lehrer, Ehud; Rosenberg, Dinah - EconWPA - 2003

specific game actually played. Typically, information structures that determine different signals, induce different equilibrium … payoffs.In zero-sum games the equilibrium payoff measures the value of the particular information structure which induces it …. We pose a question as to what restrictions do Bayesian games impose on the value of information. We provide answers in …

Persistent link: https://www.econbiz.de/10005407510

Voting and Lottery Drafts as Efficient Public Goods Mechanisms

Ledyard, John O.; Palfrey, Thomas R. - EconWPA - 1994

This paper characterizes interim efficient mechanisms for public good production and cost allocation in a two-type environment with risk neutral, quasi-linear preferences and fixed size projects, where the distribution of the private good, as well as the public goods decision, affects social...

Persistent link: https://www.econbiz.de/10005407511

On the Relation Between Perfect Equilibria in Extensive Form Games and Proper Equilibria in Normal Form Games

Hillas, John - EconWPA - 1996

This paper examines the question of the extent to which it is true that any equilibrium that is quasi-perfect in any extensive form game having a given normal form is necessarily proper. If one fixes not only the equilibrium in question but also a a sequence of completely mixed strategies...

Persistent link: https://www.econbiz.de/10005407514

A Consumer-Based Model of Competitive Diffusion of Two Goods: The Effects of Network Externalities and Local Interactions

Tomochi, Masaki; Murata, Hiroaki; Kono, Mitsuo - EconWPA - 2002

The diffusion of two competitive, interchangeable, and durable goods is studied under the framework of a spatial game where consumers are distributed on a two-dimensional square lattice and play 3$\times$3 symmetric coordination-like games with their nearest neighbors. There are three...

Persistent link: https://www.econbiz.de/10005407515

Topology-Free Typology of Beliefs

Heifetz, Aviad; Samet, Dov - EconWPA - 1996

In their seminal paper, Mertens and Zamir (1985) proved the existence of a universal Harsanyi type space which consists of all possible types. Their method of proof depends crucially on topological assumptions. Whether such assumptions are essential to the existence of a universal space remained...

Persistent link: https://www.econbiz.de/10005407516

A Game Theoretic Approach to Computer Science: Survey and Research Directions

GALLO, Crescenzio - EconWPA - 2005

Theoretical Computer Science classically aimed to develop a mathematical understanding of capabilities and limits of traditional computing architecture (Boole, von Neuman, Turing, Church, Godel), investigating in computability, complexity theory and algorithmics. Now it seems more natural to...

Persistent link: https://www.econbiz.de/10005407520

AN EVOLUTIONARY INTERPRETATION OF MIXED-STRATEGY EQUILIBRIA

Oechssler, Joerg - EconWPA - 1994

One of the more convincing interpretations of mixed strategy equilibria describes a mixed equilibrium as a steady state in a large population in which all players use pure strategies but the population as a whole mimics a mixed strategy. To be complete, however, this interpretation requires a...

Persistent link: https://www.econbiz.de/10005407522

A Note on Common Prior

Pintér, Miklós - EconWPA - 2005

Harsányi introduced the concept of type space in an intuitive way. Later Heifetz and Samet formalized it. Harsányi used conditional probabilities to model the beliefs of the players, Heifetz and Samet avoided using conditional probabilities formally. We show that in both cases the concept of...

Persistent link: https://www.econbiz.de/10005407523