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The aim of this paper is to introduce prospect theory in a game theoretic framework. We address the complexity of the weighting function by restricting the object of our analysis to a 2-player 2-strategy game, in order to derive some core results. We find that dominant and indifferent strategies...
Persistent link: https://www.econbiz.de/10011110809
In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions interdependent (strategic communication). Schelling's originality...
Persistent link: https://www.econbiz.de/10011111447
The theory of games (or game theory) is a mathematical theory that deals with the general features of competitive situations. It involves strategic thinking, and studies the way people interact while making economic policies, contesting elections and other such decisions. There are various types...
Persistent link: https://www.econbiz.de/10011166059
The aim of this paper is to propose a methodology to stabilize the currency markets by adopting Game Theory. Our idea is to save the Euro from the speculative attacks (due the crisis of the Euro-area States), and this goal is reached by the introduction, by the normative authority, of a...
Persistent link: https://www.econbiz.de/10011258452
The aim of this paper is to present a proposal regarding the possible stabilization of the rapid variations on the value of government bonds issued by the States, using the ``Game Theory". In particular, we focus our attention on three players: a large bank that has immediate access to the...
Persistent link: https://www.econbiz.de/10011258488
In this paper, we develop a game theoretic model for cooperative advertising in a supply chain consisting of a monopolistic manufacturer selling its product to the consumer only through competing duopolistic retailers. We consider a new form of the demand function which is an additive form. The...
Persistent link: https://www.econbiz.de/10011220301
The purpose of this note is to introduce how to evaluate strategic choices of the firm using economic principles. The procedure is based on simple cost benefit considerations such as building on the economic principles of incentive compatibility constraints based in Game Theory.
Persistent link: https://www.econbiz.de/10011112162
In this paper, we consider a static model for advertising strategies and pricing decisions in supply chain with one monopolistic manufacturer and two duopolistic retailers. We assume an additive form of the consumer demand which is influenced by retail price and advertising. The manufacturer...
Persistent link: https://www.econbiz.de/10011201778
Game theory is a relevant and powerful tool for analyzing strategic interactions in a supply chain in which the decision of each player affect the payoff of other players. In order to relax the classical two supply chain members’ situation to a three supply chain members’ situation and to...
Persistent link: https://www.econbiz.de/10011201796
The digital revolution of the information age and in particular the sweeping changes of scientific communication brought about by computing and novel communication technology, potentiate global, high grade scientific information for free. The arXiv for example is the leading scientific...
Persistent link: https://www.econbiz.de/10005035014