Download or read book A Perspective on Recognition in Repeated Games written by Dilip Abreu and published by . This book was released on 1989 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Perspective on Renegotiation in Repeated Games written by Dilip Abreu and published by . This book was released on 1989 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Game Theoretic Perspective on Coalition Formation written by Debraj Ray and published by Oxford University Press. This book was released on 2007-11 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing upon and extending his inaugural Lipsey Lectures, Debraj Ray looks at coalition formation from the perspective of game theory. Ray brings together developments in both cooperative and noncooperative game theory to study the analytics of coalition formation and binding agreements.

Download or read book Beyond Fictitious Play Beliefs written by Leonidas Spiliopoulos and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Belief models capable of detecting 2- to 5-period patterns in repeated games by matching the current historical context to similar realizations of past play are presented. The models are implemented in a cognitive framework, ACT-R, and vary in how they implement similarity-based categorization -- using either an exemplar or a prototype approach. Empirical estimation is performed on the elicited-belief data from two experiments (Nyarko and Schotter, 2002; Rutström and Wilcox, 2009) using repeated games with a unique, albeit significantly different, stage mixed-strategy Nash equilibrium. Model comparisons are performed by cross-validation both within and between these two datasets, and using data from completely unrelated non-strategic tasks. Subjects' beliefs are best described by 2-period pattern detection. Parameter estimates exhibited considerable instability across the two belief-elicitation datasets, and surprisingly, using median values from a wide variety of unrelated studies led to better predictions.

Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit Dhami and published by Oxford University Press, USA. This book was released on 2019-12-16 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sixth volume of The Foundations of Behavioral Economic Analysis covers behavioral models of learning. It is an essential guide for advanced undergraduate and postgraduate students seeking a concise and focused text on this important subject, and examines evolutionary game theory, models of learning, and stochastic social dynamics. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioral economics.

Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit S. Dhami and published by Oxford University Press. This book was released on 2016 with total page 1799 pages. Available in PDF, EPUB and Kindle. Book excerpt: It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance.

Download or read book The Journal of Economic Perspectives written by and published by . This book was released on 1999 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: This journal attempts to fill a gap between the general-interest press and other academic economics journals. Its articles relate to active lines of economics research, economic analysis of public policy issues, state-of-the-art economic thinking, and directions for future research. It also aims to provide material for classroom use, and to address issues relating to the economics profession.

Download or read book Pattern Recognition and Subjective Belief Learning in a Repeated Constant Sum Game written by Leonidas Spiliopoulos and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aspires to fill a conspicuous gap in the literature regarding learning in games -- the absence of empirical verification of learning rules involving pattern recognition. Weighted fictitious play is extended to detect two-period patterns in opponents' behavior and to comply with the cognitive laws of subjective perception. An analysis of the data from Nyarko and Schotter (2002) uncovers significant evidence of pattern recognition in elicited beliefs and action choices. The probability that subjects employ pattern recognition depends positively on a measure of the exploitable two-period patterns in an opponent's action choices, in stark contrast to the minimax hypothesis. A significant proportion of the subjects' competence in pattern recognition is the result of a subconscious/automatic cognitive mechanism, implying that elicited beliefs may not adequately represent the complete learning process of game players. Additionally, standard weighted fictitious play models are found to bias memory parameter estimates upwards due to mis-specification.

Download or read book The Indirect Approach written by David P. Ellerman and published by World Bank Publications. This book was released on 2000 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aid and conditionalities are the "carrot and stick" of the conventional direct approach to fostering economic development. Considering the outcomes of the conventional approach, it might be worthwhile to explore alternative indirect approaches that focus on enabling clients to act more autonomously, rather than try for fuller control of clients' actions with improved carrots and sticks.

Download or read book The Experiment in the History of Economics written by Philippe Fontaine and published by Routledge. This book was released on 2005-07-12 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Throughout the history of economic ideas, it has often been asserted that experimentation is impossible, yet, in fact, history shows that the idea of ‘experimentation’ has always been important, and as such has been interpreted and put to use in many ways. Rich in historical detail, the essays in this topical volume deal with such issues as laboratory experimentation, the observed transition from a post-war economics to a contemporary discipline, the contrasting positions of Friedrich Hayek and Oskar Morgenstern, the socio-economic experiments proposed by Ernest Solvay and Knut Wicksell, and a rigorous examination of the way in which economic models can or cannot be construed as valid experiments producing useful knowledge. A testament to the variety of ways in which experimentation has been of importance in the creation of economic knowledge, these wide-ranging essays will interest those seeking to expand their historical understanding of the discipline, be they theorists, historians, philosophers, advanced students or researchers.

Download or read book Evolution and Progress in Democracies written by Johann Götschl and published by Springer Science & Business Media. This book was released on 2001-10-31 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a ground-breaking series of articles, one of them written by a Nobel Laureate, this volume demonstrates the evolutionary dynamic and the transformation of today's democratic societies into scientific-democratic societies. It highlights the progress of modeling individual and societal evaluation by neo-Bayesian utility theory. It shows how social learning and collective opinion formation work, and how democracies cope with randomness caused by randomizers. Nonlinear `evolution equations' and serial stochastic matrices of evolutionary game theory allow us to optimally compute possible serial evolutionary solutions of societal conflicts. But in democracies progress can be defined as any positive, gradual, innovative and creative change of culturally used, transmitted and stored mentifacts (models, theories), sociofacts (customs, opinions), artifacts and technifacts, within and across generations. The most important changes are caused, besides randomness, by conflict solutions and their realizations by citizens who follow democratic laws. These laws correspond to the extended Pareto principle, a supreme, socioethical democratic rule. According to this principle, progress is any increase in the individual and collective welfare which is achieved during any evolutionary progress. Central to evolutionary modeling is the criterion of the empirical realization of computed solutions. Applied to serial conflict solutions (decisions), evolutionary trajectories are formed; they become the most influential causal attractors of the channeling of societal evolution. Democratic constitutions, legal systems etc., store all advantageous, present and past, adaptive, competitive, cooperative and collective solutions and their rules; they have been accepted by majority votes. Societal laws are codes of statutes (default or statistical rules), and they serve to optimally solve societal conflicts, in analogy to game theoretical models or to statistical decision theory. Such solutions become necessary when we face harmful or advantageous random events always lurking at the edge of societal and external chaos. The evolutionary theory of societal evolution in democracies presents a new type of stochastic theory; it is based on default rules and stresses realization. The rules represent the change of our democracies into information, science and technology-based societies; they will revolutionize social sciences, especially economics. Their methods have already found their way into neural brain physiology and research into intelligence. In this book, neural activity and the creativity of human thinking are no longer regarded as linear-deductive. Only evolutive nonlinear thinking can include multiple causal choices by many individuals and the risks of internal and external randomness; this serves the increasing welfare of all individuals and society as a whole. Evolution and Progress in Democracies is relevant for social scientists, economists, evolution theorists, statisticians, philosophers, philosophers of science, and interdisciplinary researchers.

Download or read book Modern Developments In Behavioral Economics Social Science Perspectives On Choice And Decision Making written by John Malcolm Dowling and published by World Scientific Publishing Company. This book was released on 2007-09-04 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the field of behavioral economics and provides insights into the following questions:The book looks at decision making and behavior from the point of view of (i) individual behavior and choice; (ii) group and interactive choice; and (iii) collective choices and decision making. In particular, it covers the following aspects: instances when bounded rationality leads to decisions inconsistent with standard economic assumptions; risk and the processes by which investors and consumers make decisions; altruistic and cooperative behavior as alternatives to competition; game theory as a way to explore motives of cooperation versus competition; the determinants of happiness and the relationship between utility and well-being; the concept of social capital, including motivations for charity and being a responsible citizen; how trust and fairness relate to economic actions and the motivation to cooperate rather than compete; behavior such as crime, corruption and bribery from ethical, social and economic viewpoints; and, finally, the decision making process of collective choice and how societies develop rules for governing themselves.This is the first book to bridge economics, psychology, sociology and political sciences and explain the nuanced subtleties of decision making.

Download or read book Law Justice and the State Nordic perspectives written by International Association for Philosophy of Law and Social Philosophy. World Congress and published by Franz Steiner Verlag. This book was released on 1995 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Proceedings of the 16th World Congress of the International Association for Philosophy of Law and Social Philosophy (IVR), Reykjavík, 26 May-2 June, 1993."--T.p.

Download or read book Intelligent Decision Making An AI Based Approach written by Gloria Phillips-Wren and published by Springer. This book was released on 2008-02-27 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intelligent Decision Support Systems have the potential to transform human decision making by combining research in artificial intelligence, information technology, and systems engineering. The field of intelligent decision making is expanding rapidly due, in part, to advances in artificial intelligence and network-centric environments that can deliver the technology. Communication and coordination between dispersed systems can deliver just-in-time information, real-time processing, collaborative environments, and globally up-to-date information to a human decision maker. At the same time, artificial intelligence techniques have demonstrated that they have matured sufficiently to provide computational assistance to humans in practical applications. This book includes contributions from leading researchers in the field beginning with the foundations of human decision making and the complexity of the human cognitive system. Researchers contrast human and artificial intelligence, survey computational intelligence, present pragmatic systems, and discuss future trends. This book will be an invaluable resource to anyone interested in the current state of knowledge and key research gaps in the rapidly developing field of intelligent decision support.

Download or read book Economic Dimensions in International Law written by Jagdeep S. Bhandari and published by Cambridge University Press. This book was released on 1997 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Each of the chapters was presented at a conference in the spring of 1995, sponsored by Duquesne University and George Mason University"--Pref.

Download or read book Cooperatives the State and Corporate Power in African Export Agriculture written by Karin Wedig and published by Routledge. This book was released on 2019-02-22 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agriculture is a major contributor to Africa’s GDP, the region’s biggest source of employment and its largest food producer. However, agricultural productivity remains low and buyer-driven global value chains offer few opportunities for small producers to upgrade into higher value-added activities. In recent years, the revival of Africa’s cooperatives has been celebrated by governments and international donors as a pathway towards inclusive agricultural development, and this book explores the strengths but also the issues which surround these cooperatives. The book scrutinizes the neoliberal ideal of economic prosperity arising through the operation of liberalized labor markets by illuminating the discriminatory nature of Uganda’s informal labor relations. It points to the role of cooperatives as a potential instrument of progressive change in African export agriculture, where large numbers of small producers depend on casual wage work in addition to farming. In contrast to the portrayal, advanced by some governments and rarely questioned by donors, of an unproblematic co-existence of small producers’ collective action and big capital interests, the author calls for a re-politicized debate on the Social and Solidarity Economy. As part of this, she highlights the adverse political and economic conditions faced by African cooperatives, including intense international competition in agricultural processing, inadequate access to infrastructure and services, and at times antagonistic state-cooperative relations. Supported by wide-ranging interdisciplinary evidence, including new ethnographic, survey and interview data, this book shows how cooperatives may be co-opted by both the state and corporations in a discourse that ignores structural inequalities in value chains and emphasizes poverty reduction over economic and political empowerment. It provides a critique of New Institutional Economics as a framework for understanding how institutions shape redistribution, and develops a political economy approach to explore the conditions for structural change in African export agriculture.

Download or read book A Generalized Approach to Belief Learning in Repeated Games written by Christos A. Ioannou and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: