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We model strategic competition in a market with asymmetric information as a noncooperative game in which each firm competes for the business of a buyer of unknown type by offering the buyer a catalog of products and prices. The timing in our model is Stackelberg: in the first stage, given the...
Persistent link: https://www.econbiz.de/10012728670
Modeling club structures as bipartite directed networks, we formulate the problem of club formation as a noncooperative game of network formation and identify conditions on network formation rules and players' network payoffs sufficient to guarantee that the game has a potential function. Our...
Persistent link: https://www.econbiz.de/10012718960
Given the preferences of players and the rules governing network formation, what networks are likely to emerge and persist? And how do individuals and coalitions evaluate possible consequences of their actions in forming networks? To address these questions we introduce a model of network...
Persistent link: https://www.econbiz.de/10014223691
In all social and economic interactions, individuals or coalitions choose not only with whom to interact but how to interact, and over time both the structure (the "with whom") and the strategy ("the how") of interactions change. Our objectives here are to model the structure and strategy of...
Persistent link: https://www.econbiz.de/10014210432