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Baye, Michael R.; Kovenock, Dan; Vries, Casper G. de - Tinbergen Institute - 2009

, tournaments, R&D races, models of ligitation, and a host of other contests. …-order contests with complete information, in which each player's strategy generates direct or indirect affine "spillover" effects … important economic environments, as well as in classic contests adapted to recent experimental and behavioral models where …

Persistent link: https://www.econbiz.de/10004964456

CEO Compensation and Cash-Flow Shocks : Evidence from Changes in Environmental Regulations

Choi, Seungho; Levine, Ross; Park, Jonghyeon; Xu, Simon - National Bureau of Economic Research - 2024

This paper investigates how shocks to expected cash flows influence CEO incentive compensation. Exploiting changes in compliance with environmental regulations as shocks to expected future cash flows, we find that adverse shocks typically prompt corporate boards to recalibrate CEO compensation...

Persistent link: https://www.econbiz.de/10014486193

The Unique-lowest Sealed-bid Auction

Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - Tinbergen Institute - 2008

Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two-bidders' auction is similar to the Hawk-Dove game, which...

Persistent link: https://www.econbiz.de/10005136936

Competitive Bidding in Auctions with Private and Common Values

Goeree, Jacob K.; Offerman, Theo - Tinbergen Institute - 2000

The objects for sale in most auctions possess both private and common value elements. This salient feature has not yet been incorporated into a strategic analysis of equilibrium bidding behaviour. This paper reports such an analysis for a stylised model in which bidders receive a private value...

Persistent link: https://www.econbiz.de/10005450754

Network Formation with Heterogeneous Players

Galeotti, Andrea; Goyal, Sanjeev - Tinbergen Institute - 2002

This paper studies network formation in settings where players are heterogeneous with respect to benefits as well as the costs of forming links. Our results demonstrate that centrality, center-sponsorship and short network diameter are robust features of equilibrium networks. We find that in a...

Persistent link: https://www.econbiz.de/10005450764

On Borel Probability Measures and Noncooperative Game Theory

Frenk, J.B.G.; Kassay, G.; Protassov, V. - Tinbergen Institute - 2002

In this paper the well-known minimax theorems of Wald, Ville and Von Neumann are generalized under weaker topological conditions on the payoff function <i>f</i> and/or extended to the larger set of the Borel probability measures instead of the set of mixed strategies.

Persistent link: https://www.econbiz.de/10005450809

Two-way Flow Networks with Small Decay

Jaegher, K. De; Kamphorst, J.J.A. - Tinbergen Institute - 2010

This paper characterizes the set of equilibrium networks in the two-way flow model of network formation with small decay, and this for all increasing benefit functions of the players. We show that as long as the population is large enough, this set contains large- as well as small-diameter...

Persistent link: https://www.econbiz.de/10008838607

Preparation and toolkit learning

Voorneveld, Mark (contributor) - 2002 - [Elektronische Ressource]

A product set of pure strategies is a prep set ("prep" is short for "preparation") if it contains at least one best reply to any consistent belief that a player may have about the strategic behavior of his opponents. Minimal prep sets are shown to exists in a class of strategic games satisfying...

Persistent link: https://www.econbiz.de/10001638116

Strategic use of available capacity in the electricity spot market

Le Coq, Chloé (contributor) - 2002 - [Elektronische Ressource]

The literature on deregulated electricity markets generally assumes available capacities to be given. In contrast, this paper studies a model where firms precommit to capacity levels before competing in a uniform price auction. The analysis sheds light on recent empirical findings that firms use...

Persistent link: https://www.econbiz.de/10001663587

Group selection and social preferences

Weibull, Jörgen (contributor); … - 2005 - [Elektronische Ressource], Rev. September 27, 2005

A large number of individuals are randomly matched into groups, where each group plays a finite symmetric game. Individuals breed true. The expected number of surviving offspring depends on own material payoff, but may also, due to cooperative breeding and/or reproductive competition, depend on...

Persistent link: https://www.econbiz.de/10002609559