◮ Each player’**s** strategy specifies optimal actions given her
beliefs and the strategies of the other players, and
◮ The beliefs are consistent with Bayes’ rule wherever possible.
If (4) is not required, the equilibrium concept is called weak perfect Bayesian equilibrium (weak PBE).

11 さらに読み込む

The allocation with the price vector constitute a competitive (Walrasian) equilibrium if every consumer maximizes her utility and all markets clear, i.e., supply equal to demand for ever[r]

15 さらに読み込む

Consider why the second price and English auction will. no longer be equivalent when valuations are inter-[r]

16 さらに読み込む

Dynamic Game (12 points, moderate) Consider a dynamic game depicted by Figure 1. a) Express this game into normal-form (strategic-form) by drawing the payoff matrix. b) Find all Nash eq[r]

2 さらに読み込む

Paul Romer (1955-, 内生的成長理論) → 学界から消えた！？
Ben Bernanke (1953-, マクロ、金融) → FRB議長を辞めた**の**は好材料？ Douglas Diamond (1953-, 銀行取付) → 金融は無い？
清滝信宏 (1955-, マクロ、金融) → まだ早い

21 さらに読み込む

A tree starts with the initial node and ends at.. terminal nodes where payoffs are specified..[r]

23 さらに読み込む

3(a - e)/4, is greater than aggregate quantity in the Nash equilib- rium of the Cournot game, 2(a - e)/3, so the market-clearing price is lower in the Stackelberg game.. Thus, i[r]

17 さらに読み込む

If the stage game has a unique NE, then for any T , the finitely repeated game has a unique SPNE: the NE of the stage game is played in every stage irrespective of the histor[r]

20 さらに読み込む

Exist exactly one for ANY exchange problem. Always Pareto efficient and individually rational[r]

49 さらに読み込む

(b) If consumer’**s** choice satis…es the weak axiom of revealed preferences, we can always construct a utility function which is consistent with such choice behav- iour.
(c) If a consumer problem has a solution, then it must be unique whenever the consumer’**s** preference relation is convex.

2 さらに読み込む

elimination of strictly dominated strategies can never be selected (with positive probability) in a mixed-strategy Nash equilibrium.[r]

18 さらに読み込む

Q = K 1 =4
L 1 =8 Then, answer the following questions.
(a) In the short run, the …rm is committed to hire a …xed amount of capital K(+1), and can vary its output Q only by employing an appropriate amount of labor L . Derive the …rm’**s** short-run total, average, and marginal cost functions. (b) In the long run, the …rm can vary both capital and labor. Derive the …rm’**s**

3 さらに読み込む

A strategy in dynamic games is a complete action plan which prescribes how the player will act in each possible.. contingencies in future..[r]

16 さらに読み込む

Prisoners’ Dilemma: Analysis
( Silent , Silent ) looks mutually beneficial outcomes, though
Playing Confess is optimal regardless of other player’**s** choice! Acting optimally ( Confess , Confess ) rends up realizing!!

27 さらに読み込む

Both the Bertrand and Cournot models are particular cases of a more general model of oligopoly competition where firms choose prices and quantities (or capacities.). Ber[r]

16 さらに読み込む

payoff) while M gives 1 irrespective of player 1’**s** strategy.
Therefore, M is eliminated by mixing L and R .
After eliminating M , we can further eliminate D (step 2) and L
(step 3), eventually picks up ( U , R ) as a unique outcome.

20 さらに読み込む

Prisoners’ Dilemma: Analysis (3)
(Silent, Silent) looks mutually beneficial outcomes, though
Playing Confess is optimal regardless of other player’**s** choice!
Acting optimally ( Confess , Confess ) rends up realizing!!

27 さらに読み込む

Introduction to Market Design and its Applications to School Choice.. Yosuke YASUDA.[r]

84 さらに読み込む

3(a - e)/4, is greater than aggregate quantity in the Nash equilib- rium of the Cournot game, 2(a - e)/3, so the market-clearing price is lower in the Stackelberg game.. Thus, i[r]

17 さらに読み込む

If the stage game has a unique NE, then for any T , the finitely repeated game has a unique SPNE: the NE of the stage game is played in every stage irrespective of the histor[r]

20 さらに読み込む