Showing 1 - 10 of 133
In this paper, we analyze the cost allocation problem when a group of agents or nodes have to be connected to a source, and where the cost matrix describing the cost of connecting each pair of agents is not necessarily symmetric, thus extending the well-studied problem of minimum cost spanning...
Persistent link: https://www.econbiz.de/10010597536
by Barelli (2009). Surprisingly, our conditions do not require nor imply mutual belief in rationality. …
Persistent link: https://www.econbiz.de/10010906693
Infinite hierarchies of awareness and beliefs arise in games with unawareness, similarly to belief hierarchies in … structure with unawareness where each type has an awareness level and a belief over types. Countable hierarchies are therefore …
Persistent link: https://www.econbiz.de/10011049778
To answer the question in the title we vary agentsʼ beliefs against the background of a fixed knowledge space, that is, a state space with a partition for each agent. Beliefs are the posterior probabilities of agents, which we call type profiles. We then ask what is the topological size of the...
Persistent link: https://www.econbiz.de/10011049847
This paper aspires to fill a conspicuous gap in the literature regarding learning in games—the absence of empirical … verification of learning rules involving pattern recognition. Weighted fictitious play is extended to detect two-period patterns in … adequately represent the complete learning process of game players. Additionally, standard weighted fictitious play models are …
Persistent link: https://www.econbiz.de/10011049668
Belief models capable of detecting 2- to 5-period patterns in repeated games by matching the current historical context … estimation is performed on the elicited-belief data from two experiments (Nyarko and Schotter, 2002; Rutström and Wilcox, 2009 … instability across the two belief-elicitation datasets, and surprisingly, using median values from a wide variety of unrelated …
Persistent link: https://www.econbiz.de/10011049875
This paper studies the learning process carried out by two agents who are involved in many games. As distinguishing all …. Partitions of higher cardinality are more costly. A process of simultaneous learning of actions and partitions is presented and … equilibrium partitions and action choices characterized. Learning across games can destabilize strict Nash equilibria even for …
Persistent link: https://www.econbiz.de/10011049900
In games with strategic substitutes (GSS), convergence of the best-response dynamic starting from the inf (or sup) of the strategy space is equivalent to global stability (convergence of every adaptive dynamic to the same pure strategy Nash equilibrium). Consequently, in GSS, global stability...
Persistent link: https://www.econbiz.de/10010573656
A decision maker (DM) considers the acquisition of a multi-attribute object with uncertain qualities which can be discovered at a cost. DM's problem is to decide how much to invest in the discovery and whether to adopt or discard based on partial information. We characterize the solution in some...
Persistent link: https://www.econbiz.de/10011117130
learning. In repeat-choice situations, such learning brings value. If probabilities appear favorable (unfavorable), a choice …, decision makers often prove to be blind to the learning opportunities offered by uncertain probabilities. They forgo …, many make choices contrary to learning. Priming with optimal strategies offers little improvement. Such decision makers …
Persistent link: https://www.econbiz.de/10011049682