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We study the static and dynamic implications of non-linear pricing schemes (i.e., bundling) for otherwise unrelated products but for multimarket contact. Bundling is always present in competition but unlikely in a cartel agreement. Although it brings extra profits to the cartel –sometimes charging a premium rather than a discount for the bundle–, bundling makes deviation from the agreement far ...

One popular way of exorcising the ddmon of dimensionality in dynamic programming is to consider spatial and temporal hierarchies for representing the value functions and policies. This paper develops a hierarchical method for Q-learning which is based on the familiar notion of a recursive feudal serfdom, with managers setting tasks and giving rewards and punishments to their juniors and in thei...

Clark AM. Reward processing: a global brain phenomenon? J Neurophysiol 109: 1–4, 2013. First published July 18, 2012; doi:10.1152/jn.00070.2012.—Rewards and punishments (reinforcement) powerfully shape behavior. Accordingly, their neuronal representation is of significant interest, both for understanding normal brain-behavior relationships and the pathophysiology of disorders such as depression...