The article studies navigability of an autonomous agent in a maze where some rooms may be indistinguishable. In a previous work the authors have shown that the properties of navigability in such a setting depend on whether an agent has perfect recall. Navigability by an agent with perfect recall is a transitive relation and without is not transitive. This article introduces a notion of restrict...

A common observation in the informal literature of economics (and elsewhere) is that in multistage “games,” players may seek early in the game to acquire a reputation for being “tough” or “benevolent” or something else. But this phenomenon is not observed in some formal game-theoretic analyses of finite games, such as Selten’s finitely repeated chain-store game or in the finitely repeated priso...

The first essay empirically models of aggregate fluctuations with two basic ingredients: agents form anticipations about the future based on noisy sources of information; these anticipations affect spending and output in the short run. Our objective is to separate fluctuations due to actual changes in fundamentals (news) from those due to temporary errors in the private sector's estimates of th...

An information set in a game tree is a set of nodes from which the rules of the game require that the same alternative (i.e., move) be selected. Thus the nodes an information set are indistinguishable to the player moving from that set, thereby reflecting imperfect information, that is, information hidden from that player. Information sets arise naturally in (for example) card gaines like poker...