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Algorithmic rationality: Game theory with costly computation

Halpern, Joseph Y.; Pass, Rafael - In: Journal of Economic Theory 156 (2015) C, pp. 246-268

We develop a general game-theoretic framework for reasoning about strategic agents performing possibly costly computation. In this framework, many traditional game-theoretic results (such as the existence of a Nash equilibrium) no longer hold. Nevertheless, we can use the framework to provide...

Persistent link: https://www.econbiz.de/10011189764

Effective search in rugged performance landscapes : a review and outlook

Baumann, Oliver; Schmidt, Jens; Stieglitz, Nils - In: Journal of management 45 (2019) 1, pp. 285-318

Persistent link: https://www.econbiz.de/10011999654

Equilibrium price dispersion with heterogeneous searchers

Chen, Yongmin; Zhang, Tianle - In: International Journal of Industrial Organization 29 (2011) 6, pp. 645-654

Firms simultaneously set prices in a homogeneous-product market where uninformed consumers search for price information …. Some uninformed consumers are “local” searchers who visit only one seller, whereas others search sequentially with an … benefits all consumers. A reduction in search cost sometimes leads to higher equilibrium prices. …

Persistent link: https://www.econbiz.de/10011051624

Modeling managerial search behavior based on Simon's concept of satisficing

Wall, Friederike - In: Computational & mathematical organization theory 29 (2023) 2, pp. 265-299

Persistent link: https://www.econbiz.de/10014314472

Incentive and Insurance Effects of Tax Financed Unemployment Insurance

Andersen, Torben M - C.E.P.R. Discussion Papers - 2010

The potential distortions of job-search incentives caused by unemployment benefits and their financing are well known …

Persistent link: https://www.econbiz.de/10008677233

Agent-based computational economics in management accounting research : opportunities and difficulties

Wall, Friederike; Leitner, Stephan - In: Journal of management accounting research : JMAR 33 (2021) 3, pp. 189-212

Persistent link: https://www.econbiz.de/10012793285

Asymmetric Learning in Repeated Contracting: An Empirical Study

Cohen, Alma - In: The Review of Economics and Statistics 94 (2012) 2, pp. 419-432

This paper uses a unique panel data set of an insurer's transactions with repeat customers. Consistent with the asymmetric learning hypothesis that repeated contracting enables sellers to obtain an informational advantage over their rivals, I find that the insurer makes higher profits in...

Persistent link: https://www.econbiz.de/10011010011

Equivalence of the information structure with unawareness to the logic of awareness

Heinsalu, Sander - In: Journal of Economic Theory 147 (2012) 6, pp. 2453-2468

This paper proves the Li (2009) [13] unawareness structure equivalent to the single-agent propositionally generated logic of awareness of Fagin and Halpern (1988) [4]. For any model of one type one can construct a model of the other type describing the same belief and awareness. Li starts from...

Persistent link: https://www.econbiz.de/10011042968

Learning from private and public observations of othersʼ actions

Amador, Manuel; Weill, Pierre-Olivier - In: Journal of Economic Theory 147 (2012) 3, pp. 910-940

We study the diffusion of dispersed private information in a large economy, where agents learn from the actions of others through two channels: a public channel, such as equilibrium market prices, and a private channel, for example local interactions. We show that, when agents learn only from...

Persistent link: https://www.econbiz.de/10011042970

Insider Trading, Stochastic Liquidity and Equilibrium Prices

Collin-Dufresne, Pierre; Fos, Vyacheslav - National Bureau of Economic Research (NBER) - 2012

We extend Kyle's (1985) model of insider trading to the case where liquidity provided by noise traders follows a general stochastic process. Even though the level of noise trading volatility is observable, in equilibrium, measured price impact is stochastic. If noise trading volatility is...

Persistent link: https://www.econbiz.de/10010581038

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