Reinforcement learning in the El Farol model

Article Abstract:

The properties of reinforcement learning in the Arthur's El Farol model and, in particular, the possibly far-reaching consequences of seemingly minor specification details are studied. The shape of long-run equilibrium frequency distribution is distinct from the Nash equilibrium solutions and also sensitive to some of the model's specification details.

Behavior Theory, Economic aspects, Learning, Human behavior, Equilibrium (Economics), Human acts, Human behaviour

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Simultaneous choice of process and product innovation when consumers have a preference for product variety

Article Abstract:

The R&D projects targets at, process and product innovation. The product innovations exhibit positive externalities, when the consumers have preference for product variety. Also, a simple structure of monopolistic competition is used, to analyze firms' R&D decision in other industries.

Product management, Consumers, Market domination, Market share

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Strategic outsourcing

Article Abstract:

Outsourcing has become a popular method for firms to organize their production. An investigation regarding the market structure in the input-producing industry, will have a impact on the subgame-perfect outsourcing decisions of oligopoly firms.

Strategic planning (Business), Outsourcing, Production planning

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