A class of binary decision-making tasks called the two-alternative forced-choice task has been used extensively in psychology and behavioral economics experiments to investigate human decision making. The human subject makes a choice between two options at regular time intervals and receives a reward after each choice; for a variety of reward structures, these experiments showconvergence of the...

The Minority Game is a model of interacting agents, who try to choose between two options every day, and those who are in the minority are winners. In an earlier paper, efficient stochastic strategies for this game was analyzed when the number of agents is 3, 5, 7. When the number of agents is large, the behaviour is qualitatively different, and as the discount parameter is varied, there is a s...

This essay discusses the practical aspects of mediation and arbitration. The article outlines effective steps to implement win-win, win-lose, lose-win, lose-lose negotiation strategies. It is posited that with a win-win strategy, job mediator or arbitrator find scenario acceptable both sides. role when parties are engaging in strategies different at least one not seeking win for all In particul...

Did Southern whites leave the Democratic Party over Civil Rights or because economic development and other secular changes in the region made the party’s platform increasingly unattractive to them? Answering this central question in American political economy has been hampered by lack of micro-data on racial attitudes from both before and after the Civil Rights era. Our contribution is to uncov...

Win Stay, Lose Shift as well as imitation strategies for iterated games rely on an aspiration level. With both learning rules a move is repeated unless the pay-o fell short of the aspiration level. I investigate social adaptation mechanisms for the aspiration level and their impact on the eÆciency of learning in a large population of agents that repeatedly play one round of a symmetric 2 2 game...

negotiating is the process of communicating back and forth for the purpose of reaching a joint agreement about differing needs or ideas. for successful negotiations, both parties should come to the negotiating table with having done some serious thinking about the barriers to and complexities of cross- cultural communications. there are four phases in negotiations: relationship building, inform...