The Finite Element Method is a well-studied and well-understood method of solving partial differential equations. It's applicability to financial models formulated as PDEs is demonstrated. It's advantage concerning the computation of accurate "Greeks" is delineated. This is demonstrated with...

We move from a triopoly game with heterogeneous players (E.M.Elabassy et al., 2009. Analysis of nonlinear triopoly game with heterogeneous players. Computers and Mathematics with Applications 57, 488-499). We remove the nonlinearity from the cost function and introduce it in the demand function....

In this paper, we study the global dynamics of a complementarity game with effort cost externalities. Following Matsuyama (2002), we assume that identical players are simultanously engaged in two identical games, where the players' efforts chosen in each of the games exhibit a strategic...

We study the dynamics of simple congestion games with two resources where a continuum of agents behaves according to a simplified version of Experience-Weighted Attraction algorithm. The dynamics is characterized by the intensity of choice capturing rationality of the total population of agents...

We examine the various senses in which economist use the term "rationality" and then outline some of the commonly drawn implications and auxiliary assumptions. Finally, we confront the implications with the empirical evidence, drawing on the insights from the exciting new field of behavioral...

This research monograph provides systematic and comprehensive materials for applying inframarginal analysis to study a wide range of economic phenomena. The analysis is based on a new overarching framework to resurrect the classical notion of division of labor and specialization, which is an...

Corrupt arrangements are characterized by a high risk of opportunism. Moreover, denunciation and extortion add another layer of uncertainty for participants in corrupt transactions. This paper demonstrates how legislators can use an asymmetric design of criminal sanctions to amplify these...

Forced displacement -- defined as the displacement of refugees and internally displaced persons due to violence -- has reached an unprecedented scale and global attention during the past few years, particularly in the aftermath of the Syrian refugee crisis in 2011 and the European Union's...