Clever agents in adaptive learning
Article Abstract:
The 'cleverness' of players introduced by Saez-Marti and Weibull by investigating the outcome of letting some agents play a myopic best reply to the myopic best reply in Young's bargaining model is analyzed and shows Young's prediction to be robust. In such a curb the long-run strategy distribution may vary with the share of clever agents
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2003
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Haggling over substitutes
Article Abstract:
The generic conditions on tastes, which guarantee that fixed prices are not optimal, are determined. The fully optimal selling strategy in a class of cases requires a seller to not to allow themselves to focus on one good aspect, but to remain equal on all other factors, thus to balance it's chance of getting accepted by consumers.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2004
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Balanced Bayesian mechanisms
Article Abstract:
Conditions are identified on beliefs that guarantee the existence of Bayesian incentive compatible mechanisms with balance transfers in the transferable utility case. The conditions guaranteeing the Bayesian implementability of all social decision rules with balance budget mechanisms are studied.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2004
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