I consider issues in distributed computation that should be of relevance to game theory. In particular, I focus on (a) representing knowledge and uncertainty, (b) dealing with failures, and (c) specification of mechanisms.  2003 Elsevier Inc. All rights reserved. JEL classification: D80; D83

Intertemporal correlation aversion is an intuitive concept indicating whether an individual prefers lotteries concerning consumption at different moments in time to be positively or negatively correlated. I show that the difference between the coefficient of relative risk aversion and the inverse of the intertemporal elasticity of substitution is related, in a simple way, to the index of intert...

We consider preference relations over information that are monotone: more information is preferred to less. We prove that, if a preference relation on information about an uncountable set of states of nature is monotone, then it is not representable by a utility function. JEL Classification: C70, D11, D80

Working in a complete-markets setting, a property of asset demands is identified that is inconsistent with the investor's preference being based on probabilities. In this way, a market counterpart of the Ellsberg Paradox is provided. Journal of Economic Literature Classification Numbers: D00, D80, D81. 2000 Academic Press

We propose the exponential satisficing model of boundedly rational decision-making, a general-purpose tool designed for use in typical microeconomic applications. The posits that preferences perceived and acted upon by agent are stochastic coarsening his or her true, welfare-significant preferences. decision-maker’s perceptual capabilities controlled preference resolution parameter, which smoot...

simulation optimization is a scientific tool that is widely used to design and optimize comminution circuits in mineral processing plants. In this research, first of all, in order to  determine the suitable d80 for cicuit hydrocyclone underflow, the requiremed parameters of simulator (residence time distribution, breakage function, selection function and Plitt’s model calibration) were determin...

Using a repeat sales data set, this paper tests whether a single small seller can influence the selling price of their house. We find that this influence exists and that it dominates the influence of commonly-used market conditions. Since the estimated magnitude of this effect is much higher than expected, we verify the estimate using several supplementary tests. JEL: C78, D80, R21, R31

In 1955, Herbert Simon introduced the notion of satisficing: an agent satisfices by searching for alternative that meets aspiration level but does not optimize. We survey more than 60 years advances in understanding satisficing economics, psychology, and management, identifying two research traditions address classes situations: under risk, is typically inferior to optimization strategies model...