251 research outputs found
Alternating offers bargaining with loss aversion
No full textThe Rubinstein alternating offers bargaining game is reconsidered under the assumption that each player is loss averse and the associated reference point is equal to the highest turned down offer of the opponent in the past. This makes the payoffs and therefore potential equilibrium strategies dependent on the history of play. A subgame perfect equilibrium is constructed, in which the strategies depend on the history of play throughthe current reference points. It is shown that this equilibrium is unique under some assumptions that it shares with the equilibrium in the classical model: immediate acceptance of equilibrium offers, indifference between acceptance and rejection of such offers, and strategies depending only on the current reference points. It is also shown that in this equilibrium loss aversion is a disadvantage. Moreover, a relation with asymmetric Nashbargaining is established, where a player’s bargaining power is negatively related to own loss aversion and positively to the opponent’s loss aversion.mathematical economics;
Nature as a facilitator for urban coastal resilience: A thesis on how to link nature-based thinking and climate resilience in the urban coastal context
No full textThis thesis examines how the concept of Nature-based Thinking can contribute to building climate resilience in recent projects within the field of coastal urban climate change adaptation in Denmark. The state-of-the-art interventions for nature-based solutions for climate change adaptation have been identified to assess the potential of the urban coastal nature-based approach. Furthermore, the study examines the theoretical conceptualization of climate resilience by assessing current projects in Assens, Aabenraa, Svendborg, and Vejle and analyzes the contemporary perceptions in the case projects regarding barriers and opportunities of the use of nature-based climate change adaptation. To examine the full potential of the concept of Nature-based Thinking, a planning tool of ‘reflective discussion-cards’ has been developed to widen the discussion of urban nature and climate resilience. For nature to be able to facilitate the building of climate resilience, the thesis recommends future urban coastal projects of climate change adaptation to acknowledge path-dependencies within the field while integrating the core principles of climate resilience. Furthermore, the thesis recommends openly encouraging discussion and reflection between stakeholders in adaptation projects on how to enhance biodiversity by integrating nature-based solutions and further building an urban coastal environment for nature beyond solely anthropogenic values
The theory of voting and equilibria in noncooperative games
No full textWe consider the problem of modeling voting situations, seeking models and equilibrium concepts which are easier to incorporate in large sequential decision games than the models and solution concepts used by the "theory of voting." It is demonstrated that one can avoid using very refined solution concepts (such as sophisticated outcomes), if voting is modeled like a roll-call, so each agent is assumed to know the votes of the agents who have voted before hi
An Author looks Back
No full textPAUL AUSTER: I DON’T EVEN KNOW IF THE NEW YORK TRILOGY IS VERY GOOD.AN AUTHOR LOOKS BACK AT HIS MOST WELL-KNOWN BOO
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