scholarly journals Observational learning in large anonymous games

2019 ◽  
Vol 14 (2) ◽  
pp. 403-435 ◽  
Author(s):  
Ignacio Monzón
Keyword(s):  
Observational Learning ◽  
The State ◽  
Strong Sense ◽  
Confounding Factors ◽  
Ex Post ◽  
Private Signals ◽  
The World ◽  
Standard Models ◽  
Anonymous Games ◽  
Informational Externalities

I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning, an agent's payoff depends both on the state and on the actions of others. Agents want both to learn the state and to anticipate others' play. As the sample of previous actions provides information on both dimensions, standard informational externalities are confounded with payoff externalities. I show that in spite of these confounding factors, when signals are of unbounded strength, there is learning in a strong sense: agents' actions are ex post optimal given both the state of the world and others' actions. With bounded signals, actions approach ex post optimality as the signal structure becomes more informative.

scholarly journals Misinterpreting Others and the Fragility of Social Learning

Econometrica ◽  
2020 ◽  
Vol 88 (6) ◽  
pp. 2281-2328 ◽  
Author(s):  
Mira Frick ◽  
Ryota Iijima ◽  
Yuhta Ishii
Keyword(s):  
Social Learning ◽  
Negative Impact ◽  
Information Aggregation ◽  
The State ◽  
Type Distribution ◽  
Long Run ◽  
Private Signals ◽  
The World ◽  
True State ◽  
Over Time

We exhibit a natural environment, social learning among heterogeneous agents, where even slight misperceptions can have a large negative impact on long‐run learning outcomes. We consider a population of agents who obtain information about the state of the world both from initial private signals and by observing a random sample of other agents' actions over time, where agents' actions depend not only on their beliefs about the state but also on their idiosyncratic types (e.g., tastes or risk attitudes). When agents are correct about the type distribution in the population, they learn the true state in the long run. By contrast, we show, first, that even arbitrarily small amounts of misperception about the type distribution can generate extreme breakdowns of information aggregation, where in the long run all agents incorrectly assign probability 1 to some fixed state of the world, regardless of the true underlying state. Second, any misperception of the type distribution leads long‐run beliefs and behavior to vary only coarsely with the state, and we provide systematic predictions for how the nature of misperception shapes these coarse long‐run outcomes. Third, we show that how fragile information aggregation is against misperception depends on the richness of agents' payoff‐relevant uncertainty; a design implication is that information aggregation can be improved by simplifying agents' learning environment. The key feature behind our findings is that agents' belief‐updating becomes “decoupled” from the true state over time. We point to other environments where this feature is present and leads to similar fragility results.

Hurting Pockets: A Case Study of Peru’s Legal Obligations in Transparency and Justification of Public Expenditure in State Advertising

ICL Journal ◽  
2020 ◽  
Vol 14 (3) ◽  
pp. 327-354
Author(s):  
Andres Calderon ◽  
Adriana Ascue ◽  
Eduardo Dibos
Keyword(s):  
Qualitative Analysis ◽  
Public Expenditure ◽  
Public Procurement ◽  
The State ◽  
South American ◽  
South American Country ◽  
Legal Obligations ◽  
Ex Post ◽  
The World

AbstractPublic procurement of advertising is a matter of constant debate in many countries around the world. At one point in Peru, during 2018, hiring private media outlets to broadcast or publish state advertising was prohibited by law. Taking into account the ensuing controversy in Peru, this study assesses state advertising investment in the South American country, and examines whether certain public entities (government ministries) have complied with the obligations of justification, transparency and prohibitions provided for by the law that regulates state advertising. The findings of this study point to a worrying level of noncompliance. We display these results in a systematized manner and complement them with a qualitative analysis of the justification given by public entities for spending on advertising, as well as the accountability they provide (or should provide) ex-post. This baseline study is essential to identify possible failings in the regulation of public procurement of advertising, as well as the bad practices of the state when budgeting for public expenditure on advertising campaigns. While the case study is based on the Peruvian experience, the findings can be used in many other jurisdictions as a roadmap for avoiding certain shortcomings in the regulation of state advertising.

scholarly journals Common learning and cooperation in repeated games

2020 ◽  
Vol 15 (3) ◽  
pp. 1175-1219 ◽  
Author(s):  
Takuo Sugaya ◽  
Yuichi Yamamoto
Keyword(s):  
Repeated Games ◽  
Common Knowledge ◽  
The State ◽  
Folk Theorem ◽  
Unknown State ◽  
Ex Post ◽  
The World ◽  
Common Learning

We study repeated games in which players learn the unknown state of the world by observing a sequence of noisy private signals. We find that for generic signal distributions, the folk theorem obtains using ex post equilibria. In our equilibria, players commonly learn the state, that is, the state becomes asymptotic common knowledge.

TOURIST BUSINESS DEVELOPMENT IN UKRAINE

2019 ◽  
pp. 39-46
Author(s):  
Stefania Mosiuk ◽  
Igor Mosiuk ◽  
Vladimir Mosiuk
Keyword(s):  
National Economy ◽  
Methodological Approach ◽  
Business Development ◽  
Tourism Industry ◽  
The State ◽  
Complete Analysis ◽  
Resource Potential ◽  
The World ◽  
Potential Resource ◽  
Favorable Conditions

The purpose of the article is to analyze and substantiate the development of tourism business in Ukraine as a priority component of the national economy. The methodology of this study is to use analytical, spatial, geographical, cultural and other methods. This methodological approach provided an opportunity to carry out a complete analysis of the state of the tourism industry of the state and to draw some conclusions.The scientific novelty lies in the coverage of the real and potential resource potential for the development of the recreational and tourism sphere in Ukraine, detailing the measures for the country ‘s entry into the world tourist market. Conclusions. Analyzing the state and prospects of tourism business development in Ukraine, it should be noted that this industry is one of the priority areas for improving the economy of the country. Historical, cultural – ethnographic, gastronomic, sanatorium and resort potentials of the country will lead the country into world leaders of the tourism industry when creating favorable conditions for investment and proper marketing.

The World Opened to Everyone. The Main Library of Krasnoyarsk Region has Celebrated 75-year Anniversary

2010 ◽  
pp. 99-100
Author(s):  
Julia N. Shubnikova
Keyword(s):  
Russian Federation ◽  
The State ◽  
Krasnoyarsk Region ◽  
The World ◽  
The Russian Federation ◽  
Krasnodar Region

On the State Universal Scientific Library of the Krasnodar region, which is one of the largest regional libraries in the Russian Federation.

Digital Economy: New Opportunities and Threats for the Development of the World Economy

2018 ◽  
Vol 11 (2) ◽  
pp. 18-26 ◽  
Author(s):  
I. A. Strelkova
Keyword(s):  
World Economy ◽  
Practical Experience ◽  
Business Environment ◽  
Digital Economy ◽  
The State ◽  
Market Exchange ◽  
Country Level ◽  
The World ◽  
Business Structures ◽  
Definition Of

The paper examines various approaches to the definition of the term «digital economy» in the scientific and business environment along with factors and forms of its development in different countries taking into account the specifics of the current stage of the Russian economy, which is a matter of particular importance in seeking new sources of the world economy growth. The subject of the research is opportunities and threats inherent in the process of digitalization of economies and their impact on the operation of international and national markets as well as the development of the world economy as a whole. The purpose of the paper was to analyze the practical experience in the formation and development of the digital economy in foreign countries and Russia and identify the changes it brings to the activities of state institutions and business structures, established rules of market exchange, the process of promotion and use of innovations. All the above made it possible to determine the country-level specifics of the digital economy evolution reveal the contradictory nature of its manifestations and justify the necessity for active participation of the state in stimulation and support of potentially promising digital innovations in various sectors of the economy. It is concluded that the level of the digital economy development depends on the real-sector performance, the maturity of markets, the state of the national economy. It is highlighted that the criteria for a comprehensive assessment of the results of the economy digitalization must be developed.

KEY ASPECTS OF TRANSFORMATION OF THE STATE AUTHORITIES IN THE WORLD AND TO THE MODERN SOVERUM UKRAINE: A JOINT AND PERSONALITY

2018 ◽  
Vol 1 (11) ◽  
pp. 164-174
Author(s):  
Оlena Fedorіvna Caracasidi
Keyword(s):  
Separation Of Powers ◽  
Human Life ◽  
State Power ◽  
The State ◽  
Public Power ◽  
The People ◽  
Large Numbers ◽  
The World ◽  
Distribution Of Power ◽  
Key Aspects

The article deals with the fundamental, inherent in most of the countries of the world transformation of state power, its formation, functioning and division between the main branches as a result of the decentralization of such power, its subsidiarity. Attention is drawn to the specifics of state power, its func- tional features in the conditions of sovereignty of the states, their interconnec- tion. It is emphasized that the nature of the state power is connected with the nature of the political system of the state, with the form of government and many other aspects of a fundamental nature.It is analyzed that in the middle of national states the questions of legitima- cy, sovereignty of transparency of state power, its formation are acutely raised. Concerning the practical functioning of state power, a deeper study now needs a problem of separation of powers and the distribution of power. The use of this principle, which ensures the real subsidiarity of the authorities, the formation of more effective, responsible democratic relations between state power and civil society, is the first priority of the transformation of state power in the conditions of modern transformations of countries and societies. It is substantiated that the research of these problems will open up much wider opportunities for the provi- sion of state power not as a center authority, but also as a leading political structure but as a power of the people and the community. In the context of global democratization processes, such processes are crucial for a more humanistic and civilized arrangement of human life. It is noted that local self-government, as a specific form of public power, is also characterized by an expressive feature of a special subject of power (territorial community) as a set of large numbers of people; joint communal property; tax system, etc.

Review of the state of the world market of drons and their application for agriculture

2019 ◽  
Vol 7 (3) ◽  
pp. 183-195 ◽  
Author(s):  
Anna Shevchenko ◽  
Andrey Migachev
Keyword(s):  
World Market ◽  
The State ◽  
The World

ESPORTS TOURNAMENTS AS A FORM OF STRATEGIC PROMOTION OF PRODUCTS AND SERVICES

2020 ◽  
Vol 2 (7) ◽  
pp. 19-23
Author(s):  
V. V. VELIKOROSSOV ◽  
◽  
Yu. M. BRYUKHANOV ◽  
A. O. TITOVA ◽  
◽  
...  
Keyword(s):  
World Economy ◽  
The State ◽  
Generation Z ◽  
Current Trends ◽  
Analytical Studies ◽  
International Consulting ◽  
The World ◽  
Private And Public ◽  
Effective Integration ◽  
Official Data

The article is dedicated to eSports as a new and promising sector of the world economy that provides businesses with effective integration scenarios. This contributes to the development of cooperation of private and public investors with eSports holdings, as well as to the involvement of the generation Z audience in promising consumption of interested companies’ products. The article examines the current trends in the development of the eSports market using analytical studies of international consulting companies. The official data characterizing the state of the eSports market in Russia are also represented. The article provides information about the model of monetization of eSports and its perspective directions. In conclusion, the article makes the necessary inferences to assess the prospects of such areas of the economy as eSports, both for the industry of interactive entertainment and for representatives of other market sectors.

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