Jamal and Sunder (1996) showed that the median prices in double auctions populated by zero-intelligence (ZI) traders whose trading limits are set by two biased heuristics tend to converge to the same equilibrium as if their trading limits were set by applying Bayes’ Rule. This note provides an analytical explanation of why the repeated use of biased heuristics approximates Bayes rule. JEL class...

1077-3142/$ see front matter Published by Elsevier Inc. http://dx.doi.org/10.1016/j.cviu.2013.05.002 q This paper has been recommended for acceptance by Carlo Colombo. ⇑ Corresponding author. E-mail addresses: [email protected] (M. Sun), [email protected] (S.S. Kumar), [email protected] (G. Bradski), [email protected] (S. Savarese). Min Sun a,⇑, Shyam Sunder Kumar , Gary Bradski , Silvio...

Sunder Kekre • Uday S. Rao • Jayashankar M. Swaminathan • Jun Zhang Graduate School of Industrial Administration, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213 College of Business, University of Cincinnati, Cincinnati, Ohio 45221 The Kenan-Flagler Business School, University of North Carolina, Chapel Hill, North Carolina 27599 A. B. Freeman School of Business, Tulane University, Ne...

This proceedings is a compilation of 33 papers that were presented at the regional meetings of the forest and conservation nursery associations in the United States in 2002. The joint meeting of the Southern Forest Nursery Association and the Northeastern Forest and Conservation Nursery Association was held at the DoubleTree Hotel and Conference Center in Gainesville, Florida on July 15 to 18. ...

Shyam Sunder Yale University (Slide 1) (Slide 2). We can think about the problems of financial reporting and control in cross-border organizations at the level of individual organizations; as well as at more aggregate, economy-wide, levels. Economies can be viewed at national, regional and international levels. If time permits, we shall consider a third level and analyze the problems faced by i...

BACKGROUND Mixture models (MM) can be used to describe mixed stocks considering three sets of parameters: the total number of contributing sources, their chemical baseline signatures and their mixing proportions. When all nursery sources have been previously identified and sampled for juvenile fish to produce baseline nursery-signatures, mixing proportions are the only unknown set of parameters...