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A bid that indicates totally different costs for various quantitites of the item offered for sale. A series of price-quantity mixtures is tendered to the auctioneer.
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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
A market mechanism during which an object, service, or set of objects is being purchased, instead of sold, to the auctioneer. The auction provides a selected set of rules which wil
"Assurance game" is a general name for the game more commonly known as "Stag Hunt." The French philosopher, Jean Jacques Rousseau, presented the subsequent circumstances. Two hunte
The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is/are the Nash Equil
A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.
A trigger strategy sometimes applied to repeated prisoner's dilemmas during which a player begins by cooperating within the initial amount, and continues to cooperate till one defe
James and Dean are playing the Chicken game. They have noticed that their payout for being perceived as "tough" depends on the size of the crowd. The larger the crowd, the "cooler"
Discussion in the preceding section suggests that if we want to measure a given hnction belonging to a simultaneous-equations model, the hnction must be fairly stable over the samp
On a picnic outing, 2 two-person teams are playing hide-and-seek. There are four hiding locations (A, B, C, and D), and the two members of the hiding team can hide separately in a
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