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Modellers have had to wrestle with an unavoidable trade-off between the demand of a general theoretical approach and the descriptive accuracy required to model a particular phenomenon. A new class of simulation models has shown to be well adapted to this challenge, basically by shifting outwards...
Persistent link: https://www.econbiz.de/10010263028
represents a complex adaptive process, wherein agents draw upon the activities of multiple actors and their rules to negotiate … demonstrates the incremental and cumulative integration of statutory and socially-embedded rules in facilitating the agents …' negotiation process. It reveals the cunning and adaptive behaviour of the agents to decentralise water resource management. The …
Persistent link: https://www.econbiz.de/10010327462
Economic corridors connect economic agents along a defined geography. They provide important connections between …
Persistent link: https://www.econbiz.de/10010507539
established through one of the following societal conventions: • A power relation according to which stronger agents are able to … relation over alternatives which limits each agent's choices. • Systematic biases in agents' preferences. These four …
Persistent link: https://www.econbiz.de/10015324885
established through one of the following societal conventions: • A power relation according to which stronger agents are able to … relation over alternatives which limits each agent's choices. • Systematic biases in agents' preferences. These four …
Persistent link: https://www.econbiz.de/10015085467
During the last two decades economists have made much progress in understanding incentives, contracts and organisations … reduce the performance of agents or their compliance with rules. In addition, these motives may generate very powerful …
Persistent link: https://www.econbiz.de/10010262734
We develop and estimate a model of dynamic interactions in which commitment is limited and contracts are incomplete to … each other through both formal contracts and informal agreements, that is, self-enforcing agreements specifying voluntary … to self-enforcement bind with positive probability and formal contracts are used to reduce this probability. …
Persistent link: https://www.econbiz.de/10010264280
enforcement behavior in a market with incomplete contracts and repeated interactions. Dismissal barriers are shown to have a …
Persistent link: https://www.econbiz.de/10010264349
Many successful franchise chains directly own a positive fraction of stores --- a structure referred to as plural form. We propose that this ownership structure is chosen as a commitment not to expropriate franchisees. The theoretical model is based on an empirical analysis of contract and...
Persistent link: https://www.econbiz.de/10010264919
pure-strategy pro.les in which the agent.s behavior in each relationship is Markov, i.e., it depends only on payoþ …-relevant information such as the agent.s type and the decisions he is inducing with the other principals). We then illustrate how these …
Persistent link: https://www.econbiz.de/10010266294