Similar Search Results

Learning and Disagreement in an Uncertain World

Acemoglu, Daron - 2010

investigate this claim using a simple model of Bayesian learning. Two individuals with different priors observe the same infinite … implications for economic behavior in a range of circumstances. We illustrate how the type of learning outlined in this paper …

Persistent link: https://www.econbiz.de/10012760581

Cycles of Distrust : An Economic Model

Acemoglu, Daron - 2012

We propose a model of cycles of distrust and conflict. Overlapping generations of agents from two groups sequentially play coordination games under incomplete information about whether the other side consists of "extremists" who will never take the good/trusting action. Good actions may be...

Persistent link: https://www.econbiz.de/10013103053

Hold-Up, Asset Ownership, and Reference Points

Hart, Oliver D. - 2010

We study two parties who desire a smooth trading relationship under conditions of value and cost uncertainty. A rigid contract fixing price works well in normal times since there is nothing to argue about. However, when value or cost is exceptional, one party will hold up the other , damaging...

Persistent link: https://www.econbiz.de/10012759758

Linear Social Interactions Models

Blume, Lawrence E. - 2013

This paper provides a systematic analysis of identification in linear social interactions models. This is both a theoretical and an econometric exercise as the analysis is linked to a rigorously delineated model of interdependent decisions. We develop an incomplete information game that...

Persistent link: https://www.econbiz.de/10013079207

“Nash-in-Nash” Bargaining : A Microfoundation for Applied Work

Collard-Wexler, Allan - 2014

A “Nash equilibrium in Nash bargains” has become a workhorse bargaining model in applied analyses of bilateral oligopoly. This paper proposes a non-cooperative foundation for “Nash-in-Nash” bargaining that extends the Rubinstein (1982) alternating offers model to multiple upstream and...

Persistent link: https://www.econbiz.de/10013044612

Fast and Slow Learning from Reviews

Acemoglu, Daron - 2017

This paper develops a model of Bayesian learning from online reviews, and investigates the conditions for asymptotic … learning of the quality of a product and the speed of learning under different rating systems. A rating system provides … to leave a review as a function of her overall satisfaction. We study learning dynamics under two classes of rating …

Persistent link: https://www.econbiz.de/10012942715

Expectations, Learning and Business Cycle Fluctuations

Eusepi, Stefano - 2008

This paper develops a theory of expectations-driven business cycles based on learning. Agents have incomplete knowledge …

Persistent link: https://www.econbiz.de/10012770876

On Best-Response Bidding in GSP Auctions

Cary, Matthew - 2015

How should players bid in keyword auctions such as those used by Google, Yahoo! and MSN? We model ad auctions as a dynamic game of incomplete information, so we can study the convergence and robustness properties of various strategies. In particular, we consider best-response bidding strategies...

Persistent link: https://www.econbiz.de/10012750270

Competition in or for the Field : Which is Better?

Engel, Eduardo; Galetovic P., Alexander; Fischer, Ronald - 2021

independent of the particular duopoly game played ex post. We apply this condition to three canonical examples -- procurement …

Persistent link: https://www.econbiz.de/10013236797

The Carbon Abatement Game

Hambel, Christoph - 2018

Climate change is one of the major global challenges. Mitigating its impact is however bedeviled by free-rider problems and external effects. We thus study the problem of optimal carbon abatement in a dynamic non-cooperative game-theoretical setting involving multiple countries that are open...

Persistent link: https://www.econbiz.de/10012918643