This paper analyses collusion by innovative firms and the role of patents in a continuous-time real options framework. A patent-investment race model is formulated in which innovative firms bargain and reach collusive agreements. It is shown that, while collusion always delays innovation, it...

In April 2003 the U.S. Federal Energy Regulatory Commission proposed the Wholesale Power Market Platform (WPMP) for common adoption by all U.S. wholesale power markets. The WPMP is a complicated market design envisioning day-ahead, real-time, and ancillary service markets maintained and operated...

The Bingo game is well known and played all over the world. Its main feature is the sequential drawing without repetition of a set of numbers. Each of these numbers is compared to the numbers contained in the boxes printed on the different rows (and columns) of the score-cards owned by the Bingo...

Game theoretic studies of market equilibria are usually noncooperative, but every exchange is a cooperative interaction, so this approach is unavoidably incomplete. One mixed cooperative-noncooperative approach that allows for this is the "biform game" approach, in which agents choose...

We consider scheduling in distributed systems from a game theoretic point view while taking into account queuing theory methodologies. In this approach no one knows the global state of the system while users try to maximize their utility. Since the performance of such a blind scheduler is worse...