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We study a two-player, zero-sum, stochastic game with incomplete information on one side in which the players are allowed to play more and more frequently. The informed player observes the realization of a Markov chain on which the payoffs depend, while the non-informed player only observes his...
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The competitive equilibrium correspondence, which associates equilibrium prices of commodities and assets with allocations of endowments, identifies the preferences and beliefs of individuals under uncertainty; this is the case even if the asset market is incomplete.
Persistent link: https://www.econbiz.de/10005021590
Fisheries are common-pool resources, and many of world's fisheries are overexploited. At the same time, capture fisheries and aquaculture operations can impinge on public goods provided by marine ecosystems such as marine biodiversity and unique habitat. The common-pool and public goods...
Persistent link: https://www.econbiz.de/10011115128