Article ID Journal Published Year Pages File Type
10437827 Journal of Economic Behavior & Organization 2005 17 Pages PDF
Abstract
When decision-making is costly, distributions of competence, endogenous rationality, may arise across buyers and sellers in a market. An adaptive game is used to make the point.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Endogenous rationality and distributions of competence
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