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This paper presents a model of random matching between individuals chosen from large populations. We assume that the populations and the set of encounters are infinite but countable and that the encounters are i.i.d. random variables. Furthermore, the probability distribution on individuals...
Persistent link: https://www.econbiz.de/10012235702
Global games are real-valued functions defined on partitions (rather than subsets) of the set of players. They capture "public good" aspects of cooperation, i.e. situations where the payoff is naturally defined for all players ("the globe") together, as is the cause with issues of environmental...
Persistent link: https://www.econbiz.de/10012235737
Kolmogorov has defined the complexity of a sequence of bits to be the minimal size of (the description of) a Turing machine which can regenerate the given sequence. This paper contains two notes on possible applications of this complexity notion to philosophy in general and the philosophy of...
Persistent link: https://www.econbiz.de/10012235738
We present and axiomatize several update rules for probabilities (and preferences) where there is no unique additive prior. In the context of non-additive probabilities we define and axiomatize Bayesian update rules; in the context of multiple (additive) priors we define maximum likelihood...
Persistent link: https://www.econbiz.de/10012235739
This paper suggests a general framework to deal with learning, dynamics and evolution in games and economic environments. In this general set-up we define a (set-valued) solution concept and prove some properties, including existence. We then discuss more specific dynamical processes and show...
Persistent link: https://www.econbiz.de/10012235750
This paper suggests definitions for two closely related terms which are (or could be) used in the social sciences. First, "rationality" is defined as a behavior which will not be altered as a result of awareness to its analysis. Next, an "ascriptive theory" is defined to be a descriptive theory...
Persistent link: https://www.econbiz.de/10012235758
The paper provides an axiomatization of linear inequality measures as a representation of a binary relation on the subspace of income profiles having the same total income. Interpreting the binary relation as a preferences (of, say, a policymaker), we extend the axioms to the whole space of...
Persistent link: https://www.econbiz.de/10012235759