A step toward a strategic foundation for rational expectations equilibrium is taken by considering a double auction with n buyers and m sellers with interdependent values and a¢ liated private information. If there are su¢ ciently many buyers and sellers, and their bids are restricted to a su¢ ciently …ne discrete set of prices, then, generically, there is an equilibrium in nondecreasing biddin...

This paper analyzes coalitions among self interested agents that need to solve combinatorial optimization problems to operate e ciently in the world By colluding coordinating their actions by solving a joint optimization prob lem the agents can sometimes save costs compared to operating individually A model of bounded rationality is adopted where computation resources are costly It is not worth...

Expectations play a central role in modern macroeconomics. The econometric learning approach, in line with the cognitive consistency principle, models agents as forming expectations by estimating and updating subjective forecasting models in real time. This approach provides a stability test for RE equilibria and a selection criterion in models with multiple equilibria. Further features of lear...

The proof of the main result in Reny and Perry (2006) is provided here. We also provide an example in which the best reply to nondecreasing bidding functions fails to be nondecreasing, and we show how to approximate a degenerate density by one that satis…es the assumptions in Reny and Perry (2006). Finally, we establish that Reny and Perry’s (2006) main result continues to hold when the notion ...

among muslim thinkers, mullasadra and ahsai are two important figures who have specific approach to the cognitive extents of the wisdom in understanding of the qur’an as a revealed text. one of the consecrate conditions of mullasadra view about ta’vil; is that from his point of view independent comprehension of qur’anic verses is permissible; but ahsai believes that ta’vil should not be contrad...

This paper builds an automated negotiation process model for integrative negotiations. The defines and automates the necessary phases activities along with approach principles to create win-win outcomes that mutually satisfy negotiating parties. However, realize this objective, literature theories are reviewed determine relevant negotiations help develop form basis of model. After investigation...

We have demonstrated displacement- and frequency-noise-free laser interferometry (DFI) by partially implementing a recently proposed optical configuration using bidirectional Mach-Zehnder interferometers (MZIs). This partial implementation, the minimum necessary to be called DFI, has confirmed the essential feature of DFI: the combination of two MZI signals can be carried out in a way that canc...