Showing 1 - 10 of 14
Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. Do these biases extend across contexts, cultures, or even species? We investigate this question by introducing fiat currency and trade to a colony of capuchin monkeys and recovering their...
Persistent link: https://www.econbiz.de/10014057374
Persistent link: https://www.econbiz.de/10003348448
The set of possible outcomes of a strongly ordinal bimatrix game is studied by imbedding each pair of possible payoffs as a point on the standard two-dimensional integral lattice. In particular, we count the number of different Pareto optimal sets of each cardinality; we establish asymptotic...
Persistent link: https://www.econbiz.de/10005463998
This is a sketch of a game theoretic and gaming approach to the development of an appropriate microeconomic theory of money and financial institutions. The phrase "money and financial institutions" is used to stress that a theory of money alone cannot be fruitfully constructed in an...
Persistent link: https://www.econbiz.de/10004990669
This is the first projected series of papers on solutions to games in matrix and extensive form.
Persistent link: https://www.econbiz.de/10005593149
We introduce a model of the 2 x 2 games played by agents or subordinates of the players. We assume that each agent or subordinates of the players. We assume that each agent is not as perceptive as his commander in that he can make only two distinctions among the four outcomes whose value can be...
Persistent link: https://www.econbiz.de/10005593204
There are many situations in which a customer's proclivity to buy the product of any firm depends not only on the classical attributes of the product such as its price and quality, but also on who else is buying the same product. We model these situations as games in which firms compete for...
Persistent link: https://www.econbiz.de/10005593259
Since 1973 I have used several three person games in coalitional form for both teaching and experimental purposes. They have been run in primarily a normative mode. The individuals have been asked to act as judges called upon to recommend a division of assets among three players. The basic use...
Persistent link: https://www.econbiz.de/10005593262
Existence of equilibrium is proved for an exchange strategic market game with complete markets. An example of equilibrium with inconsistent prices is given.
Persistent link: https://www.econbiz.de/10005762760
This essay offers an exposition of the potential uses of game theoretic reasoning and mathematical models in the study of the prevention of nuclear war.
Persistent link: https://www.econbiz.de/10005249153