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Discounted Stochastic Games With Voluntary Transfers, Sebastian Kranz
Discounted Stochastic Games With Voluntary Transfers, Sebastian Kranz
Cowles Foundation Discussion Papers
This paper studies discounted stochastic games perfect or imperfect public monitoring and the opportunity to conduct voluntary monetary transfers. We show that for all discount factors every public perfect equilibrium payoff can be implemented with a simple class of equilibria that have a stationary structure on the equilibrium path and optimal penal codes with a stick and carrot structure. We develop algorithms that exactly compute or approximate the set of equilibrium payoffs and find simple equilibria that implement these payoffs.
The Explanatory Role Of Computation In Cognitive Science, Nir Fresco
The Explanatory Role Of Computation In Cognitive Science, Nir Fresco
Faculty of Engineering and Information Sciences - Papers: Part A
Which notion of computation (if any) is essential for explaining cognition? Five answers to this question are discussed in the paper. (1) The classicist answer: symbolic (digital) computation is required for explaining cognition; (2) The broad digital computationalist answer: digital computation broadly construed is required for explaining cognition; (3) The connectionist answer: subsymbolic computation is required for explaining cognition; (4) The computational neuroscientist answer: neural computation (that, strictly, is neither digital nor analogue) is required for explaining cognition; (5) The extreme dynamicist answer: computation is not required for explaining cognition. The first four answers are only accurate to a first …