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Author : Kang-Oh Yi
Publisher :
ISBN 13 :
Total Pages : 182 pages
Book Rating : 4.:/5 (318 download)
Download or read book Three Essays on Quantal Response Equilibrium Model written by Kang-Oh Yi and published by . This book was released on 1999 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jacob K. Goeree
Publisher : Princeton University Press
ISBN 13 : 1400880920
Total Pages : 328 pages
Book Rating : 4.4/5 (8 download)
Download or read book Quantal Response Equilibrium written by Jacob K. Goeree and published by Princeton University Press. This book was released on 2016-06-28 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is not perfectly predictable. In contrast, QRE models choice behavior as probabilistic and extends classical game theory into a more realistic and useful framework with broad applications for economics, political science, management, and other social sciences. Quantal Response Equilibrium spans the range from basic theoretical foundations to examples of how the principles yield useful predictions and insights in strategic settings, including voting, bargaining, auctions, public goods provision, and more. The approach provides a natural framework for estimating the effects of behavioral factors like altruism, reciprocity, risk aversion, judgment fallacies, and impatience. New theoretical results push the frontiers of models that include heterogeneity, learning, and well-specified behavioral modifications of rational choice and rational expectations. The empirical relevance of the theory is enhanced by discussion of data from controlled laboratory experiments, along with a detailed users' guide for estimation techniques. Quantal Response Equilibrium makes pioneering game-theoretic methods and interdisciplinary applications available to a wide audience.
Author : Jack Robles
Publisher :
ISBN 13 :
Total Pages : 148 pages
Book Rating : 4.:/5 (318 download)
Download or read book Three Essays in Evolutionary Game Theory written by Jack Robles and published by . This book was released on 1996 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sudip Gupta
Publisher :
ISBN 13 :
Total Pages : 148 pages
Book Rating : 4.:/5 (89 download)
Download or read book Three Essays in Empirical Auctions written by Sudip Gupta and published by . This book was released on 2005 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jacob K. Goeree
Publisher : Princeton University Press
ISBN 13 : 069112423X
Total Pages : 322 pages
Book Rating : 4.6/5 (911 download)
Download or read book Quantal Response Equilibrium written by Jacob K. Goeree and published by Princeton University Press. This book was released on 2016-06-28 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is not perfectly predictable. In contrast, QRE models choice behavior as probabilistic and extends classical game theory into a more realistic and useful framework with broad applications for economics, political science, management, and other social sciences. Quantal Response Equilibrium spans the range from basic theoretical foundations to examples of how the principles yield useful predictions and insights in strategic settings, including voting, bargaining, auctions, public goods provision, and more. The approach provides a natural framework for estimating the effects of behavioral factors like altruism, reciprocity, risk aversion, judgment fallacies, and impatience. New theoretical results push the frontiers of models that include heterogeneity, learning, and well-specified behavioral modifications of rational choice and rational expectations. The empirical relevance of the theory is enhanced by discussion of data from controlled laboratory experiments, along with a detailed users' guide for estimation techniques. Quantal Response Equilibrium makes pioneering game-theoretic methods and interdisciplinary applications available to a wide audience.
Author :
Publisher :
ISBN 13 :
Total Pages : 650 pages
Book Rating : 4.:/5 (318 download)
Download or read book Journal of Economic Literature written by and published by . This book was released on 1999 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 584 pages
Book Rating : 4.F/5 ( download)
Download or read book Dissertation Abstracts International written by and published by . This book was released on 2008 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sanjit Dhami
Publisher : MIT Press
ISBN 13 : 0262369656
Total Pages : 553 pages
Book Rating : 4.2/5 (623 download)
Download or read book Bounded Rationality written by Sanjit Dhami and published by MIT Press. This book was released on 2022-07-12 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two leaders in the field explore the foundations of bounded rationality and its effects on choices by individuals, firms, and the government. Bounded rationality recognizes that human behavior departs from the perfect rationality assumed by neoclassical economics. In this book, Sanjit Dhami and Cass R. Sunstein explore the foundations of bounded rationality and consider the implications of this approach for public policy and law, in particular for questions about choice, welfare, and freedom. The authors, both recognized as experts in the field, cover a wide range of empirical findings and assess theoretical work that attempts to explain those findings. Their presentation is comprehensive, coherent, and lucid, with even the most technical material explained accessibly. They not only offer observations and commentary on the existing literature but also explore new insights, ideas, and connections. After examining the traditional neoclassical framework, which they refer to as the Bayesian rationality approach (BRA), and its empirical issues, Dhami and Sunstein offer a detailed account of bounded rationality and how it can be incorporated into the social and behavioral sciences. They also discuss a set of models of heuristics-based choice and the philosophical foundations of behavioral economics. Finally, they examine libertarian paternalism and its strategies of “nudges.”
Author : John H. Aldrich
Publisher : University of Michigan Press
ISBN 13 : 9780472069866
Total Pages : 516 pages
Book Rating : 4.0/5 (698 download)
Download or read book Positive Changes in Political Science written by John H. Aldrich and published by University of Michigan Press. This book was released on 2007 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Richard McKelvey's classic papers, accompanied by original essays by leading names in the field
Author : David K. Levine
Publisher : Open Book Publishers
ISBN 13 : 1906924929
Total Pages : 154 pages
Book Rating : 4.9/5 (69 download)
Download or read book Is Behavioral Economics Doomed? written by David K. Levine and published by Open Book Publishers. This book was released on 2012 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, David K. Levine questions the idea that behavioral economics is the answer to economic problems. He explores the successes and failures of contemporary economics both inside and outside the laboratory, and asks whether popular behavioral theories of psychological biases are solutions to the failures. The book not only provides an overview of popular behavioral theories and their history, but also gives the reader the tools for scrutinizing them.
Author : Rami Zwick
Publisher : Springer Science & Business Media
ISBN 13 : 0387242449
Total Pages : 332 pages
Book Rating : 4.3/5 (872 download)
Download or read book Experimental Business Research written by Rami Zwick and published by Springer Science & Business Media. This book was released on 2007-02-26 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the few titles that brings together studies that adopt laboratory based experimental economics methods to study an array of business and policy issues, spanning the entire business domain, including accounting, economics, management, marketing and cognitive science.
Author : Arie Arnon
Publisher : Springer Nature
ISBN 13 : 3030413578
Total Pages : 244 pages
Book Rating : 4.0/5 (34 download)
Download or read book Expectations written by Arie Arnon and published by Springer Nature. This book was released on 2020-03-20 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a unique historical perspective on expectations in economic theory, and applications of expectations models in economic history. Based on papers presented at the 2017 Thomas Guggenheim Conference, it brings together the work of economists, historians of economics, and economic historians on issues and events concerning expectations in economics and economic history. The contributions address: (i) the history of expectations models; (ii) growth, expectations and political economy; (iii) controversies regarding expectations methods and models; (iv) expectations in theory and reality; and (v) expectations in economic history. The book opens with a lecture by Thomas Guggenheim Prize winner Duncan Foley on the evolution of expectations in modern economic thought. The remaining content is divided into two parts, the first of which focuses on the utilization of expectations in the “ancient” and “meso” periods of high theory, i.e., from Smithian to Keynesian approaches. The papers cover topics such as “modern” applications of expectations in both “Tobinesque-Phillips” and “Harrodian-Solowian” contexts, and the debate between Friedmanite and Keynesian approaches to expectation formation. In turn, the last part presents essays on the role of economic expectations in connection with historical events and contexts, ranging from the early 20th century to World War II, and on the application of expectations theory to hyperinflation and stabilization, taking Israel as a case study.
Author : Robert H. Bates
Publisher : Princeton University Press
ISBN 13 : 0691216231
Total Pages : 260 pages
Book Rating : 4.6/5 (912 download)
Download or read book Analytic Narratives written by Robert H. Bates and published by Princeton University Press. This book was released on 2020-07-21 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Students of comparative politics have long faced a vexing dilemma: how can social scientists draw broad, applicable principles of political order from specific historical examples? In Analytic Narratives, five senior scholars offer a new and ambitious methodological response to this important question. By employing rational-choice and game theory, the authors propose a way of extracting empirically testable, general hypotheses from particular cases. The result is both a methodological manifesto and an applied handbook that political scientists, economic historians, sociologists, and students of political economy will find essential. In their jointly written introduction, the authors frame their approach to the origins and evolution of political institutions. The individual essays that follow demonstrate the concept of the analytic narrative--a rational-choice approach to explain political outcomes--in case studies. Avner Greif traces the institutional foundations of commercial expansion in twelfth-century Genoa. Jean-Laurent Rosenthal analyzes how divergent fiscal policies affected absolutist European governments, while Margaret Levi examines the transformation of nineteenth-century conscription laws in France, the United States, and Prussia. Robert Bates explores the emergence of a regulatory organization in the international coffee market. Finally, Barry Weingast studies the institutional foundations of democracy in the antebellum United States and its breakdown in the Civil War. In the process, these studies highlight the economic role of political organizations, the rise and deterioration of political communities, and the role of coercion, especially warfare, in political life. The results are both empirically relevant and theoretically sophisticated. Analytic Narratives is an innovative and provocative work that bridges the gap between the game-theoretic and empirically driven approaches in political economy. Political historians will find the use of rational-choice models novel; theorists will discover arguments more robust and nuanced than those derived from abstract models. The book improves on earlier studies by advocating--and applying--a cross-disciplinary approach to explain strategic decision making in history.
Download or read book JOURNAL OF ECONOMICS LITERATURE written by and published by . This book was released on 1996 with total page 730 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nagore Iriberri
Publisher :
ISBN 13 :
Total Pages : 414 pages
Book Rating : 4.:/5 (318 download)
Download or read book Essays in Behavioral Game Theory written by Nagore Iriberri and published by . This book was released on 2006 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Vernon L. Smith
Publisher : Cambridge University Press
ISBN 13 : 0521584507
Total Pages : 474 pages
Book Rating : 4.5/5 (215 download)
Download or read book Bargaining and Market Behavior written by Vernon L. Smith and published by Cambridge University Press. This book was released on 2000-06-12 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second Cambridge University Press collection of papers by Vernon L. Smith, a creator of the field of experimental economics, includes many of his primary authored and coauthored contributions on bargaining and market behavior between 1990 and 1998. The essays explore the use of laboratory experiments to test propositions derived from economics and game theory. They also investigate the relationship between experimental economics and psychology, particularly the field of evolutionary psychology, using the latter to broaden the perspective in which experimental results are interpreted. The volume complements Professor Smith's earlier work by demonstrating the importance of institutional features of markets in understanding behavior and market performance. Specific themes investigated include rational choice, the notion of fairness, game theory and extensive form experimental interactions, institutions and market behavior, and the study of laboratory stock markets.
Author : John C. Harsanyi
Publisher : Mit Press
ISBN 13 : 9780262582384
Total Pages : 378 pages
Book Rating : 4.5/5 (823 download)
Download or read book A General Theory of Equilibrium Selection in Games written by John C. Harsanyi and published by Mit Press. This book was released on 1988 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors, two of the most prominent game theorists of this generation, have devoted a number of years to the development of the theory presented here, and to its economic applications. They propose rational criteria for selecting one particular uniformly perfect equilibrium point as the solution of any noncooperative game. And, because any cooperative game can be remodelled as a noncooperative bargaining game, their theory defines a one-point solution for any cooperative game as well.By providing solutions - based on the same principles of rational behavior - for all classes of games, both cooperative and noncooperative, both those with complete and with incomplete information, Harsanyi and Selten's approach achieves a remarkable degree of theoretical unification for game theory as a whole and provides a deeper insight into the nature of game-theoretic rationality.The book applies this theory to a number of specific game classes, such as unanimity games; bargaining with transaction costs; trade involving one seller and several buyers; two-person bargaining with incomplete information on one side, and on both sides. The last chapter discusses the relationship of the authors' theory to other recently proposed solution concepts, particularly the Kohberg-Mertens stability theory.John C. Harsanyi is Flood Research Professor in Business Administration and Professor of Economics, University of California, Berkeley. Reinhard Selten is Professor of Economics Institute of Social and Economic Sciences: University of Bonn, Federal Republic of Germany.
