Quantal Response Equilibrium: A Stochastic Theory of Games Jun 28, 2016 By Charles HoltJacob K. GoereeThomas R. Palfrey Quantal Response Equilibrium: A Stochastic Theory of Games Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Areas of focus Economics Charles Holt Charles Holt is a professor of economics and public policy at the Frank Batten School of Leadership and Public Policy and the A. Willis Robertson Professor of Political Economy at the University of Virginia. Holt is also the current Director of the Experimental Economics Laboratory at Virginia, where he develops and programs the web-based VeconLab experiments that are widely used for teaching and research with over 90,000 participant logins per year. Read full bio Jacob K. Goeree Thomas R. Palfrey Related Content Charles Holt A Reverse Auction for Toxic Assets Research Elements of emission market design: An experimental analysis of California's market for greenhouse gas allowances Research We use a set of economic experiments to test the effects of some novel features of California’s new controls on greenhouse gas emissions. The California cap and trade scheme imposes limits on allowance ownership, uses a tiered price containment reserve sale, and settles allowance auctions based on the lowest accepted bid.
Charles Holt Charles Holt is a professor of economics and public policy at the Frank Batten School of Leadership and Public Policy and the A. Willis Robertson Professor of Political Economy at the University of Virginia. Holt is also the current Director of the Experimental Economics Laboratory at Virginia, where he develops and programs the web-based VeconLab experiments that are widely used for teaching and research with over 90,000 participant logins per year. Read full bio
Elements of emission market design: An experimental analysis of California's market for greenhouse gas allowances Research We use a set of economic experiments to test the effects of some novel features of California’s new controls on greenhouse gas emissions. The California cap and trade scheme imposes limits on allowance ownership, uses a tiered price containment reserve sale, and settles allowance auctions based on the lowest accepted bid.