The American Economic Review, Volume 85,Edições 1-3American Economic Association, 1995 |
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... player 1 is making a bet close to the empirical - best - response in all but a few of the games . Since the vast majority of second - place players are choosing y2 close to x2 , the best response for player 1 is to make the shutout bet ...
... player 1 is making a bet close to the empirical - best - response in all but a few of the games . Since the vast majority of second - place players are choosing y2 close to x2 , the best response for player 1 is to make the shutout bet ...
Página 188
... player zero - sum games ) , cheap talk will do nothing . But further ex- ploration quickly encounters thorny prob- lems . For example , Robert Aumann ( 1990 ) has discussed the " stag hunt " game : 3.3 2,0 0,2 1,1 ° Although this game ...
... player zero - sum games ) , cheap talk will do nothing . But further ex- ploration quickly encounters thorny prob- lems . For example , Robert Aumann ( 1990 ) has discussed the " stag hunt " game : 3.3 2,0 0,2 1,1 ° Although this game ...
Página 500
... player 2 may possess . Likewise , player 2's first - order expectation e , U , will take the form of a subjective probability distribution P1 ( U1 ) over all possible payoff functions U1 that player 1 may possess . On the other hand ...
... player 2 may possess . Likewise , player 2's first - order expectation e , U , will take the form of a subjective probability distribution P1 ( U1 ) over all possible payoff functions U1 that player 1 may possess . On the other hand ...
Índice
Evidence? | 17 |
Dan Kovenock and Gordon Phillips | 403 |
The Effect of Institutions on Economic Behavior | 409 |
Direitos de autor | |
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aggregate analysis assume average behavior benefits bill rate Bretton Woods Cambridge cartels central bank cheap talk choice coefficient consumption contract correlation cost countries deutsche mark drug effect employment equation estimates evidence expected fiat money firms forecast genotype growth households human capital hypothesis implies incentive income increase individual industry inflation investment Journal of Economic labor market lagged liquidity constraints marginal Medicaid ment minimum wage monetary policy monomorphic Nash equilibrium National nomic nontraded null hypothesis optimal output paper payoff function percent player political population preferences problem quota ratio reduce regression relative Research response revenue risk Robert sample sector shocks significant social Solow residuals spending statistically strategy studies supply shocks symmetric Nash Table tax rates theory tion tive trade University utility variables voters welfare workers y₁ zero