Showing 1 - 10 of 87
We examine the novel concept for repeated noncooperative games with bounded rationality: \Nash-2" equilibrium, called also \threatening-proof prole" in [16, Iskakov M., Iskakov A., 2012b]. It is weaker than Nash equilibrium and equilibrium in secure strategies: a player takes into account not...
Persistent link: https://www.econbiz.de/10011098907
When consumers do not know the prices at which different firms sell, they often also do not know production costs. Consumer search models which take asymmetric information about production costs into account continue focusing on reservation price equilibria (RPE) and their properties. We argue...
Persistent link: https://www.econbiz.de/10010739725
Studying the standard monopolistic competition model with unspecified utility/cost functions, we find necessary and sufficient conditions on the function elasticities, when an expanding market or trade incur welfare losses. Two numerical examples explain why: either excessive or insufficient...
Persistent link: https://www.econbiz.de/10010798382
This paper examines the eect of price matching guarantees (PMGs) in a sequential search model. PMGs are simultaneously chosen with prices and some consumers (shoppers) know the rms' decisions before buying, while others (non-shoppers) enter a shop rst before observing a rm's price and whether or...
Persistent link: https://www.econbiz.de/10010717755
We present a natural generalization of the Dixit-Stiglitz monopolistic competition model (DSM) | we assume that there is a continuum of industries, each of them described as in DSM, and each characterized with its own elasticity of substitution. Although rms in all industries share the same...
Persistent link: https://www.econbiz.de/10010720461
The paper examines an interaction of boundedly rational firms that are able to calculate their gains after reaction of an opponent to their own deviations from the current strategy. We consider an equilibrium concept that we call a Nash-2 equilibrium. We discuss the problem of existence and...
Persistent link: https://www.econbiz.de/10011253120
areas. The implication for Russia and APR is that Russia’s integration into the APR virtual water market would provide … considerable benefits for Russia which include economic gains. More importantly, according to the interdependence theory, as well … as a defensive realism, Russia, acting as a guarantor of Asia’s food and water security, would provide long-term positive …
Persistent link: https://www.econbiz.de/10011098887
We develop a two-factor, two-sector trade model of monopolistic competition with variable elasticity of substitution. Firms' profits and sizes may increase or decrease with market integration depending on the degree of asymmetry between countries. The country in which capital is relatively...
Persistent link: https://www.econbiz.de/10010756003
addressed this problem in the context of emerging market economies. This paper uses the case of Russia to address the ways in … discussion of the history of skill formation in Russia from the Soviet era through the present, we present four case studies of …
Persistent link: https://www.econbiz.de/10011098876
This paper presents the results of research into the values and norms which are adhered to a Russian tour operator, the employees’ personal business values, and the level of their adherence to company regulations. The empirical data of this research includes the company’s internal documents,...
Persistent link: https://www.econbiz.de/10011098878