Temporary equilibrium dynamics with Bayesian learning

Article Abstract:

The stability of deterministic steady states is evaluated in a class of economies with a one-dimensional state variable and where Bayesian methods to form expectations are being employed by agents. There is local convergence in learning when the prior mean approaches a stable perfect-foresight root with modulus below 1. There is divergence if the prior mean is large.

Usage, Bayesian statistical decision theory, Bayesian analysis

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Local coordination and market equilibria

Article Abstract:

The stability analysis of competitive equilibria as a coordination problem in a market game is reformulated. A study of a competitive market reveal results related to the analysis of local coordination in the simultaneous and sequential move market game.

Market Research, Market Research & Product Development, Analysis, Marketing research

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Farsighted network formation

Article Abstract:

The details on the model of dynamic network formation with payoffs in real time in New York, when agents are farsighted. The efficacy of the model is discussed.

Science & research, New York, Decision-making, Group, Group decision making

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