Showing 1 - 10 of 57
In this paper, we develop a game theoretic model for cooperative advertising in a supply chain consisting of a monopolistic manufacturer selling its product to the consumer only through competing duopolistic retailers. We consider a new form of the demand function which is an additive form. The...
Persistent link: https://www.econbiz.de/10011220301
Exploration is a costly activity that helps a business improve their understanding of a potential mineral deposit. Yet, even with strong exploration results, the business faces uncertainty over the value of the mine. I model this situation as a game of chance. The game starts by giving an agent...
Persistent link: https://www.econbiz.de/10011274395
Entry of new firms can be difficult or even impossible at capacity constrained facilities, despite the actual cost of entering is low. Using a game theoretic model of incumbent firms’ pricing behaviour under these conditions, it is found that under the assumption of Bertrand competition and...
Persistent link: https://www.econbiz.de/10011258735
Many resource allocation contests have the property that individuals undertake costly actions to appropriate a potentially divisible resource. We design an experiment to compare individuals’ decisions across three resource allocation contests which are isomorphic under risk-neutrality. The...
Persistent link: https://www.econbiz.de/10011259038
In this paper we give a clear-cut explanation to the sluggish wage adjustments which are commonly experienced also in face of involuntary unemployment. We prove that unemployment may be the physiological outcome of rational decisions by competing workers who may find it optimal to ask higher...
Persistent link: https://www.econbiz.de/10011259827
by economic theory, but “the hypothesis of employer discrimination does not at all explain segregation by occupation … theory foundations, insofar as they impose a utility indicator function as a primitive concept via persuasion, rather than … to discriminate. Economic theory is, therefore, endogenously color-blind, race-blind, gender-blind, ethnicity-blind, and …
Persistent link: https://www.econbiz.de/10011260187
theory has been applied to solving games of strategic interaction between two or more players. Building upon recent work of … van Binsbergen and Marx (2007. Exploring relations between decision analysis and game theory. Decision Anal. 4(1) 32 …
Persistent link: https://www.econbiz.de/10005014726
The paper presents three different reconstructions of the 1980s boom of game theory and its rise to the present status … game theory, of some traditional antitrust prohibitions and limitations which had been challenged by the Chicago approach … been played by John Harsanyi and Bayesian decision theory. …
Persistent link: https://www.econbiz.de/10009323925
by a peculiar alliance between Chicago-style price theory – which, contrary to game theory, considers predatory behavior …
Persistent link: https://www.econbiz.de/10009323929
In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its … applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions … interdependent (strategic communication). Schelling's originality is to extend economic theory to social sciences. When a player can …
Persistent link: https://www.econbiz.de/10009372562