Showing 1 - 10 of 1,060
We study participation games with negative feedback, i.e. games where players choose either to participate in a certain project or not and where the payoff for participating decreases in the number of participating players. We use the replicator dynamics to model the competition between...
Persistent link: https://www.econbiz.de/10011349183
We introduce a framework to analyze the interaction of boundedly rational heterogeneous agents repeatedly playing a participation game with negative feedback. We assume that agents use different behavioral rules prescribing how to play the game conditionally on the outcome of previous rounds. We...
Persistent link: https://www.econbiz.de/10010328395
We introduce a framework to analyze the interaction of boundedly rational heterogeneous agents repeatedly playing a participation game with negative feedback. We assume that agents use different behavioral rules prescribing how to play the game conditionally on the outcome of previous rounds. We...
Persistent link: https://www.econbiz.de/10008506475
We introduce a framework to analyze the interaction of boundedly rational heterogeneous agents repeatedly playing a participation game with negative feedback. We assume that agents use different behavioral rules prescribing how to play the game conditionally on the outcome of previous rounds. We...
Persistent link: https://www.econbiz.de/10008729061
Persistent link: https://www.econbiz.de/10008925917
We develop a nonlinear duopoly model in which the heuristic expectation formation and learning behavior of two boundedly rational firms may engender complex dynamics. Most importantly, we assume that the firms employ different forecasting models to predict the behavior of their opponent....
Persistent link: https://www.econbiz.de/10014305614
We develop a nonlinear duopoly model in which the heuristic expectation formation and learning behavior of two boundedly rational firms may engender complex dynamics. Most importantly, we assume that the firms employ different forecasting models to predict the behavior of their opponent....
Persistent link: https://www.econbiz.de/10015193598
Outcomes of the shallow lake interest conflict are presented in a number of different contexts: quasi-static and dynamic social planning, and quasi-static one-shot and repeated non-cooperative play. As the underlying dynamics are non-convex, the analysis uses geometrical-numerical methods: the...
Persistent link: https://www.econbiz.de/10014046620
We analyse an extended version of the dynamical mean-field Ising model. Instead of classical physical representation of spins and external magnetic field, the model describes traders' opinion dynamics. The external field is endogenised to represent a smoothed moving average of the past state...
Persistent link: https://www.econbiz.de/10011865581
Outcomes of the shallow lake interest conflict are presented in a number of different contexts: quasi-static and dynamic social planning, and quasi-static one-shot and repeated non-cooperative play. As the underlying dynamics are non-convex, the analysis uses geometrical-numerical methods: the...
Persistent link: https://www.econbiz.de/10011378127