150 research outputs found
Perfect Sequential Reciprocity and Dynamic Consistency
Dufwenberg and Kirchsteiger�s (2004) extends Rabin�s (1993) theory of reciprocity in a dynamic sense, introducing a rule of revision for player�s beliefs. The Sequential Reciprocity Equilibrium [SRE] they define can be dynamically inconsistent. In this article it is argued that such dynamic inconsistency is not intrinsically related to issues of reciprocity, but rather to the particular way the beliefs�updating process is modeled. A refinement of the SRE, which is both dynamically consistent and, it is argued, more sound to assumptions usually made in the literature of information economics and philosophy, is proposed.Reciprocity;� Dynamic Consistency
Collective Bargaining and Walrasian Equilibrium
This paper contributes to the research agenda on non-cooperative foundations ofWalrasian Equilibrium. A class of barganing games in which agents bargain over prices and maximum trading con- straints is considered: It is proved that all the Stationary Sub- game Perfect Equilibria of these games implement Walrasian al- locations as the bargaining frictions vanish. The main novelty of the result is twofold: (1) it holds for any number of agents; (2) it is robust to di¤erent speci�cations of the bargaining process.strategic bargaining; Walrasian Equilibrium
A network solution to robust implementation:The case of identical but unknown distributions
Data de publicació electrònica: 24 de gener de 2023We study robust mechanism design in environments in which agents commonly believe that others’ types are identically distributed, but we do not assume that the actual distribution is common knowledge, nor that it is known to the designer. First, we characterize all incentive compatible transfers under these assumptions. Second, we characterize the conditions under which full implementation is possible via direct mechanisms, that only elicit payoff relevant information, and the transfer schemes which achieve it whenever possible. The full implementation results obtain from showing that the problem can be transformed into one of designing a network of strategic externalities, subject to suitable constraints which are dictated by the incentive compatibility requirements.The BSE benefited from the financial support of the Spanish Ministry of Economy and Competitiveness, through the Severo Ochoa Programme for Centres of Excellence in R&D (CEX2019-000915-S). Antonio Penta acknowledges the financial support of the European Research Council, Starting Grant 759424
Web-Based Knowledge Extraction and the Cognitive Characterization of Cultural Groups
The advent of Web 2.0 has provided new opportunities for cultural analysts to understand more about the cognitive characteristics of cultural groups. In particular, user-contributed content provides important indications as to the beliefs, attitudes and values of cultural groups, and this is an important focus of attention for those concerned with the development of cognitively-relevant models. In order to support the exploitation of the Web in the context of cultural modeling activities, it is important to deal with both the large-scale nature of the Web and the current dominance of natural language formats. In this paper, we outline an approach to support the exploitation of the Web in the context of cultural modeling activities. The approach begins with the development of qualitative cultural models (which describe the beliefs, concepts and values of cultural groups), and these models are subsequently used to develop an ontology-based information extraction capability (which harvests model-relevant information from online textual resources). We are currently developing a system to support the approach, and the continued development of this system should enable cultural analysts to more fully exploit the Web for the purpose of developing more accurate, detailed and predictively-relevant cognitive models
Marketing Agencies and Collusive Bidding in Online Ad Auctions
The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space on the web. We analyze how collusive bidding can emerge from bid delegation to a common marketing agency and how this can undermine the revenues and allocative efficiency of both the Generalized Second Price auction (GSP, used by Google and Microsoft-Bing and Yahoo!) and the of VCG mechanism (used by Facebook). We find that, despite its well-known susceptibility to collusion, the VCG mechanism outperforms the GSP auction both in terms of revenues and efficiency
Perfect Sequential Reciprocity and Dynamic Consistency
Dufwenberg and Kirchsteiger�s (2004) extends Rabin�s (1993) theory of reciprocity
in a dynamic sense, introducing a rule of revision for player�s beliefs. The Sequential
Reciprocity Equilibrium [SRE] they define can be dynamically inconsistent. In this article it is argued that such dynamic inconsistency is not intrinsically related to issues of
reciprocity, but rather to the particular way the beliefs�updating process is modeled. A refinement of the SRE, which is both dynamically consistent and, it is argued, more sound
to assumptions usually made in the literature of information economics and philosophy,
is proposed
Perfect Sequential Reciprocity and Dynamic Consistency
Dufwenberg and Kirchsteiger�s (2004) extends Rabin�s (1993) theory of reciprocity
in a dynamic sense, introducing a rule of revision for player�s beliefs. The Sequential
Reciprocity Equilibrium [SRE] they define can be dynamically inconsistent. In this article it is argued that such dynamic inconsistency is not intrinsically related to issues of
reciprocity, but rather to the particular way the beliefs�updating process is modeled. A refinement of the SRE, which is both dynamically consistent and, it is argued, more sound
to assumptions usually made in the literature of information economics and philosophy,
is proposed
Collective Bargaining and Walrasian Equilibrium
This paper contributes to the research agenda on non-cooperative
foundations ofWalrasian Equilibrium. A class of barganing games
in which agents bargain over prices and maximum trading con-
straints is considered: It is proved that all the Stationary Sub-
game Perfect Equilibria of these games implement Walrasian al-
locations as the bargaining frictions vanish. The main novelty of
the result is twofold: (1) it holds for any number of agents; (2) it
is robust to di¤erent speci�cations of the bargaining process
Towards Automatically Addressing Self-Admitted Technical Debt: How Far Are We?
Upon evolving their software, organizations and individual developers have to
spend a substantial effort to pay back technical debt, i.e., the fact that
software is released in a shape not as good as it should be, e.g., in terms of
functionality, reliability, or maintainability. This paper empirically
investigates the extent to which technical debt can be automatically paid back
by neural-based generative models, and in particular models exploiting
different strategies for pre-training and fine-tuning. We start by extracting a
dateset of 5,039 Self-Admitted Technical Debt (SATD) removals from 595
open-source projects. SATD refers to technical debt instances documented (e.g.,
via code comments) by developers. We use this dataset to experiment with seven
different generative deep learning (DL) model configurations. Specifically, we
compare transformers pre-trained and fine-tuned with different combinations of
training objectives, including the fixing of generic code changes, SATD
removals, and SATD-comment prompt tuning. Also, we investigate the
applicability in this context of a recently-available Large Language Model
(LLM)-based chat bot. Results of our study indicate that the automated
repayment of SATD is a challenging task, with the best model we experimented
with able to automatically fix ~2% to 8% of test instances, depending on the
number of attempts it is allowed to make. Given the limited size of the
fine-tuning dataset (~5k instances), the model's pre-training plays a
fundamental role in boosting performance. Also, the ability to remove SATD
steadily drops if the comment documenting the SATD is not provided as input to
the model. Finally, we found general-purpose LLMs to not be a competitive
approach for addressing SATD
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