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Noldeke, Georg; Samuelson, Larry - Cowles Foundation for Research in Economics, Yale University - 2014

We study markets in which agents first make investments and are then matched into potentially productive partnerships. Equilibrium investments and the equilibrium matching will be efficient if agents can simultaneously negotiate investments and matches, but we focus on markets in which agents...

Persistent link: https://www.econbiz.de/10010942841

Catalytic Finance: When Does It Work?

Morris, Stephen; Shin, Hyun Song - Cowles Foundation for Research in Economics, Yale University - 2003

In a simple model of currency crises caused by creditor coordination failure, we show that bailouts that reduce ex post inefficiency will sometimes create ex ante moral hazard but will sometimes enhance the incentives for governments to take preventative actions. This model helps us understand a...

Persistent link: https://www.econbiz.de/10005087386

Absenteeism, Substitutes, and Complements in Simple Games

Quint, Thomas; Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2003

-vector for which r_i is the probability that player i attends a vote. We define a power index for such games, called the absentee … extension of the game. Finally, we define the notion of substitutes and complements in simple games. We compare these concepts …

Persistent link: https://www.econbiz.de/10005087387

Competing for Customers in a Social Network (R)

Dubey, Pradeep; Garg, Rahul; Meyer, Bernard De - Cowles Foundation for Research in Economics, Yale University - 2012

can model these situations as games in which firms compete for customers located in a "social network." A canonical …

Persistent link: https://www.econbiz.de/10010547942

The Present and Future of Game Theory

Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2011

A broad nontechnical coverage of many of the developments in game theory since the 1950s is given together with some comments on important open problems and where some of the developments may take place. The nearly 90 references given serve only as a minimal guide to the many thousands of books...

Persistent link: https://www.econbiz.de/10009204991

Absenteeism, Substitutes, and Complements and the Banzhaf Index

Quint, Thomas - Cowles Foundation for Research in Economics, Yale University - 2003

games, called the absentee index. Our analysis was based on the theory of the Shapley-Shubik power index (SSPI) for simple … games. In this paper we do an analogous analysis, based on the Banzhaf index instead of the SSPI. The result is a new index … simple games (Quint-Shubik 2003), again basing our analysis on the Banzhaf index instead of the SSPI. …

Persistent link: https://www.econbiz.de/10005762592

A Behavioral Model of Bargaining with Endogenous Types

Abreu, Dilip; Pearce, David - Cowles Foundation for Research in Economics, Yale University - 2003

We enrich a simple two-person bargaining model by introducing "behavioral types" who concede more slowly than does the average person in the economy. The presence of behavioral types profoundly influences the choices of optimizing types. In equilibrium, concessions are calculated to induce...

Persistent link: https://www.econbiz.de/10005762599

One-Way Essential Complements

Chen, M. Keith; Nalebuff, Barry J. - Cowles Foundation for Research in Economics, Yale University - 2006

While competition between firms producing substitutes is well understood, less is known about rivalry between complementors. We study the interaction between firms in markets with one-way essential complements. One good is essential to the use of the other but not vice versa, as arises with an...

Persistent link: https://www.econbiz.de/10005762709

Money and the Monetization of Credit

Shubik, Martin - Cowles Foundation for Research in Economics, Yale University - 2001

The relationship between money and credit is discussed in terms of network linkage. Fiat money is the only instrument with the universal recognition of its issuer. Near monies such as bank money and money substitutes such as gasoline credit cards can be classified in terms of their network...

Persistent link: https://www.econbiz.de/10005762749

Mediation and Peace

Horner, Johannes; Morelli, Massimo; Squintani, Francesco - Cowles Foundation for Research in Economics, Yale University - 2010

This paper brings mechanism design to the study of conflict resolution in international relations. We determine when and how unmediated communication and mediation reduce the ex ante probability of conflict, in a simple game where conflict is due to asymmetric information. Unmediated...

Persistent link: https://www.econbiz.de/10008511591