Games with procedurally rational players
Article Abstract:
Construction of a model which constrains a player by making the player sample a preference choice set and choose only a single preference out of the set showed that the model can satisfy many economic models which rule the efficiency of choices. This model is in stark contrast to the principles employed in the Nash equilibrium wherein the choice of players is only a response to the best equilibrium choice of other players. Such a constraint is shown to affect payoffs in terms of their equilibrium meaning.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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Compensating differentials for gender-specific job injury risks
Article Abstract:
An analysis of gender-specific job risk compensating differentials reveals that there are mechanisms to measure risk for women and that women should be compensated accordingly because they have higher injury risks. The study finds that women are 71% more likely than men to be injured from work and that occupational risk has a higher impact on the wage rate than industry risk with only occupational risk remaining significant when both are factored into wage differentials.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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Monty Hall's three doors: construction and deconstruction of a choice anomaly
Article Abstract:
Investigations into the anomalous behavior of resisting an option to switch given the opportunity to do so, shows that the utility and effectivity of investigations into anomalous economic behavior is futile and should be reserved only in situations when such a behavior forms a pattern, thus becoming a problem worthy of research. As seen in many experiments, such anomalous behavior fails to qualify itself into any models due to its lack of persistence.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1998
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