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The work for which he won the 1994 Nobel Prize in economics was a series of articles published in 1967 and 1968 which established what has become the standard framework for analyzing "games of incomplete information", situations in which the various strategic decisionmakers have different information about the parameters of the game.
Gregory Chaitin produced undecidable statements in algorithmic information theory and proved another incompleteness theorem in that setting. Chaitin's incompleteness theorem states that for any system that can represent enough arithmetic, there is an upper bound c such that no specific number can be proved in that system to have Kolmogorov ...
Repeated games can include some incomplete information. Repeated games with incomplete information were pioneered by Aumann and Maschler . [ 4 ] While it is easier to treat a situation where one player is informed and the other not, and when information received by each player is independent, it is possible to deal with zero-sum games with ...
Incomplete information ultimatum games: Some authors have studied variants of the ultimatum game in which either the proposer or the responder has private information about the size of the pie to be divided. [55] [56] These experiments connect the ultimatum game to principal-agent problems studied in contract theory.
One early commercial application of information theory was in the field of seismic oil exploration. Work in this field made it possible to strip off and separate the unwanted noise from the desired seismic signal. Information theory and digital signal processing offer a major improvement of resolution and image clarity over previous analog methods.
Information Manipulation Theory (abbreviated IMT) is a theory of deceptive discourse production, rooted in H. Paul Grice's theory of conversational implicature. [1] [2] IMT argues that, rather than communicators producing truths and lies, the vast majority of everyday deceptive discourse involves complicated combinations of elements that fall somewhere in between these polar opposites; with ...
In sociology, the nomothetic model tries to find independent variables that account for the variations in a given phenomenon (e.g. What is the relationship between timing/frequency of childbirth and education?). Nomothetic explanations are probabilistic and usually incomplete.
In economics and game theory, complete information is an economic situation or game in which knowledge about other market participants or players is available to all participants. The utility functions (including risk aversion), payoffs, strategies and "types" of players are thus common knowledge .
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