## Bayesian Analysis and Uncertainty in Economic TheoryNo descriptive material is available for this title. |

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### Contents

Introduction | 1 |

Bayesian Decision Theory | 7 |

Behavioral and Control Theory of the Firm | 27 |

Bayesian Analysis and Duopoly Theory | 41 |

Multiperiod Decision Models with Alternating Choice as a Solution to the Duopoly Problem | 57 |

Cooperation and Learning in a Duopoly Context | 74 |

Interfirm Learning and the Kinked Demand Curve | 93 |

Sequential Strategies in Dual Control Problems | 109 |

Some Examples of Adaptive Utility | 144 |

Sequential Investment Decisions | 152 |

Capital Allocation within Firms | 162 |

Rational Expectations | 171 |

Epilogue | 186 |

189 | |

199 | |

203 | |

### Other editions - View all

Bayesian Analysis and Uncertainty in Economic Theory Richard Michael Cyert No preview available - 2011 |

Bayesian Analysis and Uncertainty in Economic Theory Richard Michael Cyert No preview available - 1987 |

### Common terms and phrases

actual adaptive utility allocation approach assume assumption backward induction Bayes Bayesian analysis behavior bution chapter choose its output coefficient of cooperation concept consumer control theory converge cost Cournot Cyert decision maker decision problem decision theory DeGroot denote derived determine develop distri distribution with mean DM's duopoly problem equation error terms example expected profit expected total loss firm 1 chooses firm l's firm's follows given period given values increase indifference curves investment kinked demand kinked demand curve learning loss function maximize multiperiod process mutually optimal normal distribution number of periods observed odd period oligopoly optimal choice optimal reaction functions optimal value outputs qt parameter player posterior distribution prior distribution probability distribution profit functions profit of firm random variable rational expectations represents result risk rival sequence sequential specified Suppose theorem total profit uncertainty utility function value of q variance vector