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Persistent link: https://www.econbiz.de/10003364430
We develop a nonparametric procedure, called the lattice method, for testing the consistency of contingent consumption data with a broad class of models of choice under risk and under uncertainty. Our method allows for risk loving and elation seeking behavior and can be used to calculate, via...
Persistent link: https://www.econbiz.de/10011671892
We consider multi-stage games, where at each stage, players receive private signals about past and current states, past actions and past signals, and choose actions. We fully characterize the distributions over actions, states, and signals that obtain in any (sequential) communication...
Persistent link: https://www.econbiz.de/10011872424
Regret minimizing strategies for repeated games have been receiving increasing attention in the literature. These are simple adaptive behavior rules that exhibit nice convergence properties. If all players follow regret minimizing strategies, their average joint play converges to the set of...
Persistent link: https://www.econbiz.de/10008771585