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A form of a Japanese auction (which is a form of an English auction) in which bidders hold down a button as the auctioneer frequently increases the current price. Bidders irrevocably free the button when the current price surpasses their willingness to pay. The auction close when only one bidder remains and all others have released the button.
The notion that those that don't contribute to some project might nevertheless get pleasure from it (free riders), evidenced in games like the tragedy of the commons and public pro
Computer Game Zenda This game was invented by James Andreoni and Hal Varian; see their article, "Pre-Play Contracting in the Prisoners 'Dilemma".The paper also contains some co
One charm of evolutionary game theory is that it permits for relaxation of the normal fully-informed rational actor assumption. People, or agents, are assumed to be myopic, within
In Bontemps, Louisiana there are only two places to spend time: Merlotte's bar and Fangtasia. Sookie and Eric have made plans to spend Friday night together, but they never decided
Limitations of game theory in finance
A participant in a very game who selects from among her methods randomly, primarily based on some predetermined chance distribution, instead of strategically, primarily based on pa
Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe
Stanley is auctioning an item that he values at zero. Betty and Billy, the two potential buyers, each have independent private values which are drawn from a uniform distribution, P
Ronaldo (Brazil) kicks a penalty against Casillas (Spain) in the 2006 World Cup nal. Sup- pose that Ronaldo can kick the ball to Casillas' upper left (UL), lower left (LL), upper r
why might an airline offer the following deal: you pay 400 for a round trip ticket from here to orlando, but you only pay 300 per ticket if you stayy in orlando includes a saturday
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