"15" Result
Sort By:
"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 …
This book develops non-standard models of "boundedly rational" consumer behavior and embeds them into familiar models of markets.
Economics Nobel Laureate Herbert Simon developed the concept of bounded rationality in the 1950s. This asserts that the cognitive abilities of human decision-makers are not always sufficient to find optimal solutions to complex real-life problems, leading decision-makers to find…
Economics Nobel Laureate Herbert Simon developed the concept of bounded rationality in the 1950s. This asserts that the cognitive abilities of human decision-makers are not always sufficient to find optimal solutions to complex real-life problems, leading decision-makers to find…
Most theories of elections assume that voters and political actors are fully rational. While these formulations produce many insights, they also generate anomalies - most famously, about turnout. The rise of behavioral economics has posed new challenges to the premise of rationa…
Most theories of elections assume that voters and political actors are fully rational. While these formulations produce many insights, they also generate anomalies - most famously, about turnout. The rise of behavioral economics has posed new challenges to the premise of rationa…
Abstract: "Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are ration and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe - and as financial bubbles, …