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a new existence of private-provision equilibrium. … relying on first order conditions, the authors demonstrate existence of Nash equilibrium and an extension of Warr's neutrality … result -- any redistribution of endowment that left the set of contributors unchanged would induce a new equilibrium with the …
Persistent link: https://www.econbiz.de/10011108853
Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas:...
Persistent link: https://www.econbiz.de/10011259935
We study political influence in institutions where members choose from among several options their levels of support to a collective goal, these individual choices determining the degree to which the goal is reached. Influence is assessed by newly defined binary relations, each of which compares...
Persistent link: https://www.econbiz.de/10008555439
For at least fifty years economists have argued that vertically-aggregated marginal willingness to pay, when set equal to marginal provision cost, will result in optimal public good provision levels. This methodological approach would be expected to yield an exact analog, in terms of optimal...
Persistent link: https://www.econbiz.de/10008493588
contracting games. We, also, show that an equilibrium of a game survives iterated elimination of non-reactive strategies. At the …
Persistent link: https://www.econbiz.de/10008866150
equilibrium. First we prove that, when the collaborative equilibrium exists it is always efficient, what can be seen as a focal … equilibria for games where a collaborative equilibrium exists. Finally, we point out that two-player zero-sum games do not have … collaborative equilibrium and, moreover, if there exists a strategy profile formed only by collaboratively dominated actions it is a …
Persistent link: https://www.econbiz.de/10011258362
Given the framework introduced by Dutta and Sen (2012), this paper offers a comprehensive analysis of (Nash) implementation with partially honest agents when there are three or more participants. First, it establishes a condition which is necessary and sufficient for implementation. Second, it...
Persistent link: https://www.econbiz.de/10011258792
Nash equilibrium. Success and failure of democracy are interpreted as different equilibria of a dynamic political game with …
Persistent link: https://www.econbiz.de/10011259154
can say that the phenomenon where each player responds best to the other is Nash Equilibrium. It is a solution concept of … a non-cooperative game comprising of two or more players, in which each player is assumed to know the equilibrium … strategies of the other players, and no player has anything to gain by only changing their own strategy. Nash equilibrium is best …
Persistent link: https://www.econbiz.de/10011166059
strategies, equilibrium may not exist depending on parameters. We also discuss a different approach presented by Metzger and …
Persistent link: https://www.econbiz.de/10011110809