Forgetfulness illuminated

The molecules of forgetfulness.

2. Productivity at this level means that the production costs of H 2 (expressed as the cost in US dollars per joule of calorific value contained in the molecule) are two to three times higher than for natural gas 4,5. However, taking into account the transportation and distribution costs of natural gas, and how pure you want the H 2 to be, the comparative cost of H 2 production can vary. Biomas...

Games with Small Forgetfulness

While it is known how players may learn to play in a game they know, the issue of how their model of the game evolves over time is largely unexplored. This paper introduces small forgetfulness and shows that it may destabilize standard full-memory solutions. Players are repeatedly matched to play a game. After any match, they forget with in ̄nitesimal probability the feasibility of any opponents...

Moral hazard, renegotiation, and forgetfulness

When a principal and an agent operate with simple contracts, in equilibrium, renegotiation will occur after the agent takes her action. Since renegotiation makes incentive contracts non-credible, the principal may prefer non-renegotiable monitoring options. The current literature does not fully reconcile these predictions with the observation of simple, non-renegotiated incentive contracts. We ...

Cooperation in Games with Forgetfulness

Companies and managers are apt to forget information, yet game theory assumes that all players have perfect recall. This paper expands the literature by examining how introducing forgetfulness into a multi-player game-theoretic framework can help or hinder cooperative behavior. We distinguish between forgetting histories and forgetting strategies, and explain how classic game theory models and ...

A woman with forgetfulness and falls.