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Equilibrium selection in games with macroeconomic complementarities
Kaarbøe, Oddvar M.; Tieman, Alexander F. - 1999
We apply the stochastic evolutionary approach of equilibrium selection tomacroeconomic models in which a complementarity at the macro level ispresent. These models often exhibit multiple Pareto-ranked Nash equilibria,and the best response-correspondence of an individual increases with ameasure...
Persistent link: https://www.econbiz.de/10011302612
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Living apart together : the economic value of ethnic diversity in cities
Bakens, Jessie; Florax, Raymond J. G. M.; Groot, Henri … - 2018
In consumer cities, the presence and location of immigrants impacts house prices through two channels, which both can be valued positively as well as negatively: (i) their presence and contribution to population diversity and (ii) the creation of immigrant-induced consumer amenities like those...
Persistent link: https://www.econbiz.de/10011813388
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Research among copycats : R&D, spillovers, and feedback strategies
Smrkolj, Grega; Wagener, Florian Oskar Ottokar - 2014
We study a stochastic dynamic game of process innovation in which firms can initiate and terminate R&D efforts and production at different times. We discern the impact of knowledge spillovers on the investments in existing markets, as well as on the likely structure of newly forming markets, for...
Persistent link: https://www.econbiz.de/10010395083
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How diverse can spatial measures of cultural diversity be? : results from Monte Carlo simulations on an agent-based model
Arribes-Bel, Daniel; Nijkamp, Peter; Poot, Jacques - 2014 - Version: April 17, 2014
detailed geographical context of the city of Amsterdam. Schelling's classical segregation model is used as the theoretical … distribution of culturally-defined groups 'such as segregation, isolation or concentration indexes' are often only capable of … interpreted as revealing unobserved preferences for co-location of individuals with their own group and find that the segregation …
Persistent link: https://www.econbiz.de/10010370655
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Imitation of cooperation in prisoner's dilemma games with some local interaction
Janssen, Maarten C. W. - 2000
In this paper I study conditions for the emergence of cooperativebehavior in a dynamic model of population interaction.The model has finitely many individuals located on a circle. The pay-off of each individual is partly based on the (local)interaction with neighbors and partly on (uniform)...
Persistent link: https://www.econbiz.de/10011303319
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Capacity choice of dams under rivalry use and externalities
Houba, Harold; Kim Hang Pham Do; Zhu, Xueqin - 2014
This paper studies the relation between optimal dam capacity and water management under rivalry uses and externalities. We extend the hydropower generation model, based on Haddad (2011), by including the competing use of water resource, non-linear building cost of dam capacity and externalities...
Persistent link: https://www.econbiz.de/10010421750
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River sharing and water trade
Ansink, Erik; Gengenbach, Michael F.; Weikard, Hans-Peter - 2015
We analyse river sharing games in which a set of agents located along a river shares the available water. Using coalition theory, we find that the potential benefits of water trade may not be sufficient to make all agents in the river cooperate and acknowledge property rights as a prerequisite...
Persistent link: https://www.econbiz.de/10010464793
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Towards fully decentralized environmental regulation
Gudmundsson, Jens; Hougaard, Jens Leth; Ansink, Erik - 2024
towards decentralized coordination on environmental issues. …
Persistent link: https://www.econbiz.de/10014534747
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Extreme equilibria in a general negotiation model
Houba, Harold; Wen, Quan - 2007
We study a bargaining model with a disagreement game between offers and counteroffers. In order to characterize the set of its subgame perfect equilibrium payoffs, we provide a recursive technique that relies on the Pareto frontier of equilibrium payoffs. When players have different time...
Persistent link: https://www.econbiz.de/10011372980
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The unique-lowest sealed-bid auction
Houba, Harold; Laan, Dinard van der; Veldhuizen, Dirk - 2008
Unique-lowest sealed-bid auctions are auctions in which participation is endogenous and the winning bid is the lowest bid among all unique bids. Such auctions admit very many Nash equilibria (NEs) in pure and mixed strategies. The two-bidders' auction is similar to the Hawk-Dove game, which...
Persistent link: https://www.econbiz.de/10011374396