The vast majority of games of interest in economics, finance, political economy etc. involve some form of payoff uncertainty. A simple but interesting example is provided by auctions: an object is offered for sale, and individuals are required to submit their bids in sealed envelopes. The object is then allocated to the highest bidder at a price which depends on every bid, according to some prespecified rule (e.g. \first-price\ or \second-price\rule). In

Introduction The purpose of this lecture is to help you familiarize with the workings of sequential equi- librium and \sequential equilibrium lite, i.e. perfect Bayesian equilibrium. The main focus is the \reputation\ result of Kreps and Wilson(1982). You should refer to OR for details and definitions: I am following the textbook quite closely. of the game in which an incumbent faces a sequence of K (potential) entrants. It is clear that, in the subgame in which the last entrant gets a chance to play, the incumbent will

Introduction [Again, by and large, I will follow OR, Chap. 8, so I will keep these notes to a minimum. Review of key definitions Recall our three payoff aggregation criteria: discounting, i.e (u2)≥1>(2 (also recall that the payoff profile corresponding to a stream (ut)is taken to be(1 8)2t18t-u(a)); limit of means

In specifying refrigeration equipment the function of the equipment must be absolutely clear. Refrigeration equipment is always used to control tem- perature. Either the meat passing through the process is to be maintained it its initial temperature, for example as in a refrigerated store or a packing operation, or the temperature of the meat is to be reduced, for example in a blast freezer. These two functions

Lecture 5 Sequence Paragraph Objectives To learn what a sequence paragraph is To learn to write an effective sequence paragraph Writing instructions wha at is a sequence paragrap h?

What Is a Good Paragraph Gold, a precious metal, is prized for two important characteristics. First of all, gold has a lustrous beauty that is resistant to corrosion. Therefore it is suitable for jewelry, coins, and ornamental purposes. Gold never needs to be polished and will remain beautiful forever. For example, a Macedonian coin remains as untarnished today as the day it was made twenty-three centuries ago. Another important characteristic of gold is its usefulness to industry and science. For many years, it has been used in hundreds of

Students will be able to 1. understand the main idea and the structure of the text. 2 earn to memorize words in association 3. grasp the key language points and grammatical structures in the text 4. conduct a series of reading, listening speaking and writing activities related to the theme of the unit

At least 90 percent of UFO sightings can be identified as conventional objects, although time-consuming investigations are often necessary for such identification. The objects most often mistaken for UFOs are bright planets and stars aircraft, birds, balloons kites aerial flares, peculiar clouds, meteors and satellites. The remaining sightings most likely can be attributed to other mistaken sightings or to inaccurate reporting hoaxes or delusions although to disprove all claims made about UFOs is impossible

Pm Going to Buy the Brooklyn Bridge Teaching Objectives grasp the main idea(the belief in superwomen encourages average women to achieve their goals)and the structure of the text 2) appreciate how the author achieves coherence for her essay 3master the key language points and grammatical structures in the text

Fast Solutions to CSPs Presented by: Robert Effinger Dan Lovell Presented To: 16.412J Cognitive Robotics MIT References: \Dynamic Backtracking\ Matthew L. Ginsberg, CIRL, University of Oregon Journal of Artificial Intelligence Research 1(1993)