Does bounded rationality lead to individual heterogeneity? The impact of the experimentation process and of memory constraints

In this paper we explore the effect of bounded rationality on the convergence of individual behavior toward equilibrium. In the context of a Cournot game with a unique and symmetric Nash equilibrium, firms are modeled as adaptive economic agents through a genetic algorithm. Computational experiments show that (1) there is remarkable heterogeneity across identical but boundedly rational agents; (2) such individual heterogeneity is not simply a consequence of the random elements contained in the genetic algorithm; (3) the more rational agents are in terms of memory abilities and pre-play evaluation of strategies, the less heterogeneous they are in their actions. At the limit case of full rationality, the outcome converges to the standard result of uniform individual behavior.

Memory in contracts: the experience of the EBRD (1991-2003)

The objective of this paper is to identify the role of memory in repeated contracts with moral hazard in financial intermediation. We use the database we have built containing the contracts signed by the European Bank for Reconstruction and Development EBRD between 1991 and 2003. Our framework is a standard setting of repeated moral hazard. After having controlled for the adverse selection component, we are able to prove that client reputation is the discrimination device according to which the bank fixes the amount of credit for the established clients. Our results unambiguously isolate the effect of memory in the bank's lending decisions.

Reading Ng Kim Chew: Malaysian-Chineseness and memory in contemporary Malaysian Chinese literature in taiwan

The idea of Chineseness as a geographic, cultural-specific and ethnically-charged concept, and the pivotal role assumed by memory linger throughout the writings of most authors hailing from Chinese community in Southeast Asia. Among these communities, being the Malaysian Chinese the more prolific in terms of number of writers and pieces of literature produced, this paper deals specifically with it. Its focus is put on the literature produced by Malaysian Chinese authors residing in Taiwan, which topic constitutes an important part of the first chapter, and on one of its main representatives, Ng Kim Chew, to whom chapter two and three are fully dedicated. A literary analysis of one of his short stories, Huo yu tu, will allow the reader to have a first-hand experience, through excerpts from the original text, of the importance of Chineseness and memory in the literary production of Ng and of many authors sharing with him similar life and literary experiences. I started this research from the assumption that these authors make large use of their own memories and memories from their own community in their writing as a way to re-tie themselves to the Chineseness they left in their places of origin. However in the case of Ng Kim Chew, the analysis of his works led be to theorizing that the identity he is imbued with, if there is one, is not Chinese, nor Malaysian, but purely and distinctively Malaysian-Chinese. This paper can also serve as an introduction for the general public to the field of Sinophone literature from Southeast Asia and to promote wider and innovative paths of research within the realm of Chinese studies that go beyond China proper.

Memory in contracts: the experience of the EBRD (1991-2003)

The objective of this paper is to identify the role of memory as a screening device in repeated contracts with asymmetric information in financial intermediation. We use an original dataset from the European Bank for Reconstruction and Development. We propose a simple empirical method to capture the role of memory using the client's reputation. Our results unambiguously isolate the dominant effect of memory on the bank's lending decisions over market factors in the case of established clients.

The Digital Memory of Catalonia, Consortium of Academic Libraries of Catalonia

The Digital Memory of Catalonia, Consortium of Academic Libraries of Catalonia, contains open-access digitized collections of photographs, drawings, maps, posters, pamphlets, incunabula, ancient Catalan periodicals and many other items with a total of over two million documents related to Catalonia from 18 different institutions (universities, specialized libraries, institutes, archives, etc.).

Procedural Meaning Explicatures in the Development of New Subordination Strategies in Romance

The sociocultural changes that led to the genesis of Romance languages widened the gap between oral and written patterns, which display different discoursive and linguistic devices. In early documents, discoursive implicatures connecting propositions were not generally codified, so that the reader should furnish the correctinterpretation according to his own perception of real facts; which can still be attested in current oral utterances. Once Romance languages had undergone several levelling processes which concluded in the first standardizations, implicatures became explicatures and were syntactically codified by means of univocal new complexconjunctions. As a consequence of the emergence of these new subordination strategies, a freer distribution of the information conveyed by the utterances is allowed. The success of complex structural patterns ran alongside of the genesis of new narrative genres and the generalization of a learned rhetoric. Both facts are a spontaneous effect of new approaches to the act of reading. Ancient texts were written to be read to a wide audience, whereas those printed by the end of the XV th century were conceived to be read quietly, in a low voice, by a private reader. The goal of this paper is twofold, since we will show that: a) The development of new complex conjunctions through the history of Romance languages accommodates to four structural patterns that range from parataxis tohypotaxis. b) This development is a reflex of the well known grammaticalization path from discourse to syntax that implies the codification of discoursive strategies (Givón 2 1979, Sperber and Wilson 1986, Carston 1988, Grice 1989, Bach 1994, Blackemore 2002, among others]

Modelatge procedural d’edificis

L’objectiu d’aquest PFC és el desenvolupament d’una eina pel modelatge procedural d’edificis i altres estructures arquitectòniques. El modelatge d’edificis és, per si sol, un bon tema on aplicar‐hi la programació procedural. Un edifici normal compte sempre amb elements que es repeteixen en altura i amplada. El fet de “repetir” una tasca suggereix sempre l’aplicació d’algun tipus de procediment per tal de simplificar i reduir la feina de l’usuari a l’hora de desenvolupar aquesta feina

Modelatge procedural de ciutats

L’objectiu d’aquest projecte és el desenvolupament d’una eina pel modelatge procedural de ciutats ixarxes de carrers. El modelatge de carrers és, per si sol, un bon tema on aplicar-hi la programacióprocedural. Les ciutats solen comptar amb patrons que es van repetint al llarg del territori. El fet de“repetir” una tasca suggereix sempre l’aplicació d’algun tipus de procediment per tal de simplificar ireduir la feina de l’usuari a l’hora de desenvolupar aquesta tasca. Shan utilitzat bàsicament tres eines diferents: Un modelador 3D, un llenguatge d’scripting i un llenguatge flexible per a definir els edificis

Kuku Memory, un videojoc per exercitar la memòria a dispositius iOS

Aquest document descriu el procés de creació de Kuku Memory, un videojoc per exercitar la memòria a dispositius iOS.

Attention, memory and verbal learning and their relation to schizotypal traits in unaffected parents of schizophrenic patients

The main objective of this ex post facto study is to compare the differencesin cognitive functions and their relation to schizotypal personality traits between agroup of unaffected parents of schizophrenic patients and a control group. A total of 52unaffected biological parents of schizophrenic patients and 52 unaffected parents ofunaffected subjects were assessed in measures of attention (Continuous PerformanceTest- Identical Pairs Version, CPT-IP), memory and verbal learning (California VerbalLearning Test, CVLT) as well as schizotypal personality traits (Oxford-Liverpool Inventoryof Feelings and Experiences, O-LIFE). The parents of the patients with schizophreniadiffer from the parents of the control group in omission errors on the ContinuousPerformance Test- Identical Pairs, on a measure of recall and on two contrast measuresof the California Verbal Learning Test. The associations between neuropsychologicalvariables and schizotpyal traits are of a low magnitude. There is no defined pattern ofthe relationship between cognitive measures and schizotypal traits

A One-Shot Prisoners Dilemma with Procedural Utility

This article introduces a model of rationality that combines procedural utility over actions with consequential utility over payoffs. It applies the model to the Prisoners Dilemma and shows that empirically observed cooperative behaviors can be rationally explained by a procedural utility for cooperation. The model characterizes the situations in which cooperation emerges as a Nash equilibrium. When rational individuals are not solely concerned by the consequences of their behavior but also care for the process by which these consequences are obtained, there is no one single rational solution to a Prisoners Dilemma. Rational behavior depends on the payoffs at stake and on the procedural utility of individuals. In this manner, this model of procedural utility reflects how ethical considerations, social norms or emotions can transform a game of consequences.

A one-shot Prisoners’ Dilemma with procedural utility

This article introduces a model of rationality that combines procedural utility over actions with consequential utility over payoffs. It applies the model to the Prisoners Dilemma and shows that empirically observed cooperative behaviors can be rationally explained by a procedural utility for cooperation. The model characterizes the situations in which cooperation emerges as a Nash equilibrium. When rational individuals are not solely concerned by the consequences of their behavior but also care for the process by which these consequences are obtained, there is no one single rational solution to a Prisoners Dilemma. Rational behavior depends on the payoffs at stake and on the procedural utility of individuals. In this manner, this model of procedural utility reflects how ethical considerations, social norms or emotions can transform a game of consequences.

Is the observed persistence spurious? A test for fractional integration versus short memory and structural breaks

Although it is commonly accepted that most macroeconomic variables are nonstationary, it is often difficult to identify the source of the non-stationarity. In particular, it is well-known that integrated and short memory models containing trending components that may display sudden changes in their parameters share some statistical properties that make their identification a hard task. The goal of this paper is to extend the classical testing framework for I(1) versus I(0)+ breaks by considering a a more general class of models under the null hypothesis: non-stationary fractionally integrated (FI) processes. A similar identification problem holds in this broader setting which is shown to be a relevant issue from both a statistical and an economic perspective. The proposed test is developed in the time domain and is very simple to compute. The asymptotic properties of the new technique are derived and it is shown by simulation that it is very well-behaved in finite samples. To illustrate the usefulness of the proposed technique, an application using inflation data is also provided.

What is what?: A simple time-domain test of long-memory vs. structural breaks

This paper proposes a new time-domain test of a process being I(d), 0 < d = 1, under the null, against the alternative of being I(0) with deterministic components subject to structural breaks at known or unknown dates, with the goal of disentangling the existing identification issue between long-memory and structural breaks. Denoting by AB(t) the different types of structural breaks in the deterministic components of a time series considered by Perron (1989), the test statistic proposed here is based on the t-ratio (or the infimum of a sequence of t-ratios) of the estimated coefficient on yt-1 in an OLS regression of ?dyt on a simple transformation of the above-mentioned deterministic components and yt-1, possibly augmented by a suitable number of lags of ?dyt to account for serial correlation in the error terms. The case where d = 1 coincides with the Perron (1989) or the Zivot and Andrews (1992) approaches if the break date is known or unknown, respectively. The statistic is labelled as the SB-FDF (Structural Break-Fractional Dickey- Fuller) test, since it is based on the same principles as the well-known Dickey-Fuller unit root test. Both its asymptotic behavior and finite sample properties are analyzed, and two empirical applications are provided.