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The author undertakes in his essay a risky experiment as he tries to look at the present-time-economic-transformations in the view of the great thinker of 18th century, Dr. Bernard Mandeville, who famed by his Fable of the Bees, or Private Vices and Public Benefits. The philosophy of Mandeville,...
Persistent link: https://www.econbiz.de/10005036660
Continuing concentration of retail chains with prevailing assortment of fast moving consumer goods is empirically visible tendency present in Europe, overall consolidation of chains on saturated markets in situation of reserved consumer optimism is inavoidable. Such circumstances enable changes...
Persistent link: https://www.econbiz.de/10009398918
Persistent link: https://www.econbiz.de/10010415472
We present a model of learning in which agents learn from errors. If an action turns out to be an error, the agent … an acceptable solution is asymptotically reached. Moreover, one can take advantage of big errors for a faster learning. …
Persistent link: https://www.econbiz.de/10005572182