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game theorybayes statistikbayesian inferencework of artart auctionslearning processevidence artequilibrium selectionmonotone bayesiansensitivity analysisfailure meetmeet reservereserve priceprice impactimpact returnsreturns artselection largedeclining valuesvalues afternoonafternoon effecteffect evidencetheory of preferencesexpectation formation1980 1990evolutionäre spieltheorieevolutionary game theoryreference pointspoints learninglearning learningbayesian gamesanalysis boundaryboundary equilibriadependence uniquenessuniqueness bayesiangames regularitytesting referencereference dependencedependence applicationapplication artart marketlearning bayesiangames binarybinary actionsconvergence reinforcementreinforcement learningstochastic evolutionevolution slowslow learninglearning queuesqueues hierarchieslarge deviationsdeviations equilibriumlarge populationswaiting timestimes equilibriumauctions decliningmulti periodperiod competitioncompetition switchingswitching costsrelative estimatearbitrage pricingrecursive preferencesbehavioral economicsmonotone strategiesnash gleichgewichtnash equilibriumimplicit function theoremequilibrium theoryart tradenoncooperative gamebusiness organizationagency theoryafriat arbitragegames secondsecond orderexpected utilitylearning monotoneequilibria sensitivityregularity stabilityart large
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