As stated before, a memory bound function is a function whose computation time is dominated by the time spent accessing memory. The book will be useful to those doing basic research in the theory of repeated games and reputations. A twosided reputation result with long run players. Bound is, in its purest essence, a simple platformer. I am bound to everyone on this planet by a trail of six people. Committee on production guidelines for book longevity of the council on li.
The paper by aumann and sorin is a remarkable piece of work but it is not a contribution to the theory of bounded rationality. Repeated games and reputations university of pennsylvania. Bounded memory and biases in information processing, econometrica, vol 82 no. The new egalitarian approach is to rely on memory bound functions. Bounded memory, reputation, and impatience ideasrepec. The task the players have to solve is much more complicated with these constraints than without them. Amemorybasedmodelofboundedrationality sendhilmullainathan september20,2000 abstract howdomemorylimitationsaffecteconomicbehavior. Impermanent types and permanent reputations joint with mehmet ekmekci. Bounded memory and incomplete information ideasrepec. Bad reputation under bounded and fading memory, working papers 1527, tulane university, department of economics. You have to jump, climb, roll and explore your way through each level. This book provides a more introductory, textbooklike treatment of the subject.
A memory bound function accesses locations in a large region of memory in an unpredictable way, in such a way that using caches are not effective. Were going to kill the bitch, was one choice missive. This result implies that reputation is a shortrun phenomenon. In fact, for a particular range of parameters, a bounded memory player may never be able to learn anything at all. We study a particular class of reputation games and show that bounded memory may lead to permanent reputations. Reputation models typically assume players have full memory, yet in many applications this does not hold. Dynamic strategic information transmission joint with mike golosov, vasiliki skreta, aleh tsyvinski, journal of economic theory, vol 151 2014, pp 304. Jme journal of mathematical economics vol 49, issue 5. Bounded memory and permanent reputations, journal of mathematical economics, elsevier, vol. A twosided reputation result with long run players article in journal of economic theory 1481 january 20 with 9 reads how we measure reads. Buy bound and numbered book 3rd by bernard allen isbn. The infinite constant stream of 1 utils has a value of 1. Everyday low prices and free delivery on eligible orders.
This paper studies incomplete information games where players observe only a summary statistic of the history, including reputation games as a special case. Bounded memory also arises under policies used by internet platforms to. Bounded memory and permanent reputations sciencedirect. They are purifiable using unbounded memory strategies. Bounded memory and permanent reputations request pdf.
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