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Articles ( Showing 1-20 of 4 items)
Searched for: [ Keywords: "Auction theory" ] clear all
Journal Article
Bayesian-Nash equilibria for fuzzy value auctions
by Alexey S. Shvedov
Abstract
This paper analyses a model of private value auctions with symmetric risk-neutral bidders, where bidders' private values of an indivisible good are fuzzy. The auction is studied as a game with incomplete information. Fuzzy random variables, their quantile functions, and expressions for expectations through quantile functions are used. An explicit expression for the solution is [...] Read more

Journal Article
An Examination of Ramsey's Critique: The Lack of Support in Dismissing Keynes's Logical Theory of Probability
by Michael Emmett Brady
Abstract
In his 1922 review for Cambridge Magazine of Keynes's A Treatise on Probability, and again in his 1926 review "Truth and Probability" (published in 1931 and republished in Kyburg and Smokler's 1980 edition), Ramsey provided examples critiquing Keynes's logical theory of probability. However, these examples do not disprove Keynes's theory as all of them are flawed. The flaws ari [...] Read more

Journal Article
Psychopathy, prospect theory, and the Madoff Curve: a dual behavioral neuroscience and behavioral economic framework for understanding White Collar Crime
by Eric C. Prichard  and  Adam J. McKee
Abstract
Reckless behavior by business leaders can be a systemic risk for individual firms and the economies in which the firms exist. We propose that a synthesis of behavioral economics, in particular prospect theory, and the study of psychopathy may help researchers better understand why some business leaders engage in high-risk criminal activity. We propose that psychopathy is associ [...] Read more

Journal Article
Can Education Reduce or Mitigate Discrimination? An Investigation on Earnings of PhD Recipients in the US
by Wei-Chiao Huang , Qing Zang  and  Daxue Kan
Abstract
Spence’s signaling model (Spence, 1973) suggests that education can signal workers’ unobserved ability to employers thereby mitigating discrimination. There have been several studies concerning education’s impact on labor market discrimination against minority or disadvantaged groups. Our approach in this inquiry is unique in that we utilize the data of PhD re [...] Read more