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Author: Dirk Bergemann
Publisher: World Scientific
ISBN: 981437458X
Category : Business & Economics
Languages : en
Pages : 471
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Book Description
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Author: Dirk Bergemann
Publisher: World Scientific
ISBN: 981437458X
Category : Business & Economics
Languages : en
Pages : 471
Get Book Here
Book Description
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Author: Dirk Bergemann
Publisher: World Scientific
ISBN: 9814452165
Category : Business & Economics
Languages : en
Pages : 471
Get Book Here
Book Description
Foreword by Eric Maskin (Nobel Laureate in Economics, 2007)This volume brings together the collected contributions on the theme of robust mechanism design and robust implementation that Dirk Bergemann and Stephen Morris have been working on for the past decade. The collection is preceded by a comprehensive introductory essay, specifically written for this volume with the aim of providing the readers with an overview of the research agenda pursued in the collected papers.The introduction selectively presents the main results of the papers, and attempts to illustrate many of them in terms of a common and canonical example, namely a single unit auction with interdependent values. It is our hope that the use of this example facilitates the presentation of the results and that it brings the main insights within the context of an important economic mechanism, namely the generalized second price auction.
Author: Bo Honoré
Publisher: Cambridge University Press
ISBN: 1108245668
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
This is the first of two volumes containing papers and commentaries presented at the Eleventh World Congress of the Econometric Society, held in Montreal, Canada in August 2015. These papers provide state-of-the-art guides to the most important recent research in economics. The book includes surveys and interpretations of key developments in economics and econometrics, and discussion of future directions for a wide variety of topics, covering both theory and application. These volumes provide a unique, accessible survey of progress on the discipline, written by leading specialists in their fields. The first volume includes theoretical and applied papers addressing topics such as dynamic mechanism design, agency problems, and networks.
Author: Jacob Glazer
Publisher: World Scientific Publishing Company
ISBN: 9813141336
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
This book brings together the authors' joint papers from over a period of more than twenty years. The collection includes seven papers, each of which presents a novel and rigorous model in Economic Theory. All of the models are within the domain of implementation and mechanism design theories. These theories attempt to explain how incentive schemes and organizations can be designed with the goal of inducing agents to behave according to the designer's (principal's) objectives. Most of the literature assumes that agents are fully rational. In contrast, the authors inject into each model an element which conflicts with the standard notion of full rationality, demonstrating how such elements can dramatically change the mechanism design problem. Although all of the models presented in this volume touch on mechanism design issues, it is the formal modeling of bounded rationality that the authors are most interested in. A model of bounded rationality signifies a model that contains a procedural element of reasoning that is not consistent with full rationality. Rather than looking for a canonical model of bounded rationality, the articles introduce a variety of modeling devices that will capture procedural elements not previously considered, and which alter the analysis of the model. The book is a journey into the modeling of bounded rationality. It is a collection of modeling ideas rather than a general alternative theory of implementation.
Author: Cesar Marolla
Publisher: CRC Press
ISBN: 1498767753
Category : Science
Languages : en
Pages : 370
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Book Description
Includes universal frameworks and processes to provide a structured approach to cope with climate change impacts in megacities Features detail-oriented research and analysis of climate change health risks Discusses seven megacities' case studies in developed and developing countries Uses a risk management system approach that deals with climate variability and its impacts before and after the severe weather event hits the city Helps readers understand the actual policies and adopt them more speedily and efficiently as climate change impacts on health become more evident
Author: Sergiu Hart
Publisher: World Scientific
ISBN: 9814390704
Category : Mathematics
Languages : en
Pages : 335
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Book Description
This volume collects almost two decades of joint work of Sergiu Hart and Andreu Mas-Colell on game dynamics and equilibria. The starting point was the introduction of the adaptive strategy called regret-matching, which on the one hand is simple and natural, and on the other is shown to lead to correlated equilibria. This initial finding OCo boundedly rational behavior that yields fully rational outcomes in the long run OCo generated a large body of work on the dynamics of simple adaptive strategies. In particular, a natural condition on dynamics was identified: uncoupledness, whereby decision-makers do not know each other''s payoffs and utilities (so, while chosen actions may be observable, the motivations are not). This condition turns out to severely limit the equilibria that can be reached. Interestingly, there are connections to the behavioral and neurobiological sciences and also to computer science and engineering (e.g., via notions of OC regretOCO).Simple Adaptive Strategies is self-contained and unified in its presentation. Together with the formal treatment of concepts, theorems, and proofs, significant space is devoted to informal explanations and illuminating examples. It may be used for advanced graduate courses OCo in game theory, economics, mathematics, computer science, engineering OCo and for further research.
Author: Adam Brandenburger
Publisher: World Scientific
ISBN: 981451344X
Category : Mathematics
Languages : en
Pages : 298
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Book Description
This volume contains eight papers written by Adam Brandenburger and his co-authors over a period of 25 years. These papers are part of a program to reconstruct game theory in order to make how players reason about a game a central feature of the theory. The program OCo now called epistemic game theory OCo extends the classical definition of a game model to include not only the game matrix or game tree, but also a description of how the players reason about one another (including their reasoning about other players' reasoning). With this richer mathematical framework, it becomes possible to determine the implications of how players reason for how a game is played. Epistemic game theory includes traditional equilibrium-based theory as a special case, but allows for a wide range of non-equilibrium behavior. Sample Chapter(s). Foreword (39 KB). Introduction (132 KB). Chapter 1: An Impossibility Theorem on Beliefs in Games (299 KB). Contents: An Impossibility Theorem on Beliefs in Games (Adam Brandenburger and H Jerome Keisler); Hierarchies of Beliefs and Common Knowledge (Adam Brandenburger and Eddie Dekel); Rationalizability and Correlated Equilibria (Adam Brandenburger and Eddie Dekel); Intrinsic Correlation in Games (Adam Brandenburger and Amanda Friedenberg); Epistemic Conditions for Nash Equilibrium (Robert Aumann and Adam Brandenburger); Lexicographic Probabilities and Choice Under Uncertainty (Lawrence Blume, Adam Brandenburger, and Eddie Dekel); Admissibility in Games (Adam Brandenburger, Amanda Friedenberg and H Jerome Keisler); Self-Admissible Sets (Adam Brandenburger and Amanda Friedenberg). Readership: Graduate students and researchers in the fields of game theory, theoretical computer science, mathematical logic and social neuroscience."
Author: Lars Peter Hansen
Publisher: World Scientific
ISBN: 9814578134
Category : Business & Economics
Languages : en
Pages : 483
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Book Description
Written by Lars Peter Hansen (Nobel Laureate in Economics, 2013) and Thomas Sargent (Nobel Laureate in Economics, 2011), Uncertainty within Economic Models includes articles adapting and applying robust control theory to problems in economics and finance. This book extends rational expectations models by including agents who doubt their models and adopt precautionary decisions designed to protect themselves from adverse consequences of model misspecification. This behavior has consequences for what are ordinarily interpreted as market prices of risk, but big parts of which should actually be interpreted as market prices of model uncertainty. The chapters discuss ways of calibrating agents' fears of model misspecification in quantitative contexts.
Author: Adam Brandenburger
Publisher: World Scientific
ISBN: 9814513458
Category : Mathematics
Languages : en
Pages : 298
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Book Description
This volume contains eight papers written by Adam Brandenburger and his co-authors over a period of 25 years. These papers are part of a program to reconstruct game theory in order to make how players reason about a game a central feature of the theory. The program — now called epistemic game theory — extends the classical definition of a game model to include not only the game matrix or game tree, but also a description of how the players reason about one another (including their reasoning about other players' reasoning). With this richer mathematical framework, it becomes possible to determine the implications of how players reason for how a game is played. Epistemic game theory includes traditional equilibrium-based theory as a special case, but allows for a wide range of non-equilibrium behavior.
Author: Norman Schofield
Publisher: Springer Science & Business Media
ISBN: 3642352391
Category : Political Science
Languages : en
Pages : 397
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Book Description
This book presents latest research in the field of Political Economy, dealing with the integration of economics and politics and the way institutions affect social decisions. The focus is on innovative topics such as an institutional analysis based on case studies; the influence of activists on political decisions; new techniques for analyzing elections, involving game theory and empirical methods.
