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– game theory is a useful set of tools for better understanding different risk settings. Embedded in a short history of the … Basel Accord in this article we introduce some basic ideas of game theory in the context of rating procedures in accordance … with Basel II. As well, some insight is given how game theory works. Here, the primary value of game theory stems from its …
Persistent link: https://www.econbiz.de/10010296819
The paper analyses the links between a binding minimum wage and union bargaining. A dual labour market model is developed where the first sector outcome is characterised by bargaining between unions and firms, while in the second sector firms have to pay a statutory minimum wage. It is shown...
Persistent link: https://www.econbiz.de/10010296825
need an approach explaining interdependent actions. Game theory is in a position to offer proper olutions. This paper …
Persistent link: https://www.econbiz.de/10010301361
fortschreiten? Die Theoretiker können verfolgen, woher der Konflikt stammt. Wenn ihnen die Formulierung einer abstrakten Theorie … der Handlungsökonomie illustriert. Damit die entstehende abstrakte Theorie auch als Fortschritt gewertet werden kann, wird …
Persistent link: https://www.econbiz.de/10010305412
Current explanations why a growing economy necessarily goes through booms and recessions predict countercyclical R&D investment. As this is very controversial from an empirical perspective, a stochastic Poissonmodel of endogenous business cycles and growth is presented where the determinants of...
Persistent link: https://www.econbiz.de/10010305425
In dem vorliegenden Papier wird untersucht, inwieweit Verbraucherschutz und der Informationsstand von Konsumenten einen Einfluss auf die Entwicklung einer Industrie haben. Hierzu wird das evolutorische Simulationsmodell von Winter (1984) um einen explizit modellierten Konsumsektor in Anlehnung...
Persistent link: https://www.econbiz.de/10010305444