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beeinflussen. Da dieser Umstand in den existierenden Ansätzen der normativen und deskriptiven Spieltheorie bisher jedoch nicht … by an "aggregation axiom". For single-person-games an incentive compatible mechanism to elicit true evaluations of risks … whereas a risk perception according to the Cumulative Prospect Theory has to be rejected. In multi-person-games the additional …
Persistent link: https://www.econbiz.de/10009467104
for same-function alliances, but not for cross-function alliances. We test these equilibrium predictions in an experiment … scope of their alliance. Though such learning increases the resources committed by alliance partners in the learning phase …
Persistent link: https://www.econbiz.de/10009475396
We consider a quantity-setting duopoly market where firms lack perfect knowledge of the market demand function. They use estimated and therefore misspecified demand functions instead and determine their optimal strategies from the corresponding subjective payoff functions. The central issue of...
Persistent link: https://www.econbiz.de/10009452463
version of this idea, called interactive trial and error learning, which has the property that it implements Nash equilibrium …), the method requires no statistical estimation. Unlike a learning procedure proposed by Hart and Mas-Colell (2006), it … requires no knowledge of the other players' actions: learning proceeds purely by responding to one's own payoff history. The …
Persistent link: https://www.econbiz.de/10009441532
Learning processes are widely held to be the mechanism by which boundedly rational agents adapt to environmental … preferences arises when environmental complexity overwhelms learning possibilities and leads agents to make use of other people …
Persistent link: https://www.econbiz.de/10009448633
-stage games, sequential equilibrium, trembling-hand perfection, stability, signaling games, theory of auctions, global games …, repeated games, and correlation. …
Persistent link: https://www.econbiz.de/10009432546
Uncertainty and learning play an important role in addressing the problem of climatechange. In stylized game … shown that learning usually has a negative impact on the success of cooperation. This paper asks the question whether this …, we derive much morepositive conclusions about the role of learning. …
Persistent link: https://www.econbiz.de/10009465921
and down movement of prices. We can explain tacit coordination in our experiment with an extended learning direction model …
Persistent link: https://www.econbiz.de/10009471841
The importance of social and economic networks has meanwhile been widely acknowledged throughout social sciences. Network positions are supposed to be important for both, consumers and suppliers. Examples are R&D collaborations, strategic alliances, knowledge management within organizations,...
Persistent link: https://www.econbiz.de/10009452644