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Cores of combined games
Bloch, Francis; De Clippel, Geoffroy - 2008
This paper studies the core of combined games, obtained by summing two coalitional games. It is shown that the set of … core of the combined game coincides with the sum of the cores of its components. On the other hand, for non-balanced games …, the binary relation associating two component games whose combination has an empty core is not transitive. However, we …
Persistent link: https://www.econbiz.de/10010284063
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ACE model of endogenous interactions
Vriend, Nicolaas J. - 2005
Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).
Persistent link: https://www.econbiz.de/10010284102
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Cooperative games: Core and shapley value
Serrano, Roberto - 2007
the discipline. After the presentation of some basic definitions, the focus will be on the core and the Shapley value, two …
Persistent link: https://www.econbiz.de/10010318970
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A stock-flow approach to a general theory of pricing
Pilkington, Philip - 2013
The paper seeks to lay out a stock-flow-based theoretical framework that provides a foundation for a general theory of pricing. Contemporary marginalist economics is usually based on the assumption that prices are set in line with the value placed on goods by consumers. It does not take into...
Persistent link: https://www.econbiz.de/10010513048
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A 2019 Social Accounting Matrix for Benin with detailed representation of agriculture and food processing sectors
Kinkpe, A. Thierry; Luckmann, Jonas; Grethe, Harald; … - 2022
This paper presents a detailed 2019 Social Accounting Matrix (SAM) for Benin as a basis for policy analysis with a focus on agriculture, food processing and energy generation from byproducts. It is based on official statistics collected from national and international institutions (national...
Persistent link: https://www.econbiz.de/10013185594
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Strategic voting over strategic proposals
Bond, Philip; Eraslan, Hülya - 2008
Prior research on 'strategic voting' has reached the conclusion that unanimity rule is uniquely bad: it results in destruction of information, and hence makes voters worse off. We show that this conclusion depends critically on the assumption that the issue being voted on is exogenous, i.e.,...
Persistent link: https://www.econbiz.de/10010277536
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Auctioning risk: The all-pay auction under mean-variance preferences
Klose, Bettina; Schweinzer, Paul - 2014
We analyse the all-pay auction with incomplete information and variance-averse bidders. We characterise the symmetric equilibrium for general distributions of valuations and any number of bidders. Variance aversion is a sufficient assumption to predict that high-valuation bidders increase their...
Persistent link: https://www.econbiz.de/10011282465
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Unique equilibrium in rent-seeking contests with a continuum of types
Ewerhart, Christian - 2014
It is shown that rent-seeking contests with continuous and independent type distributions possess a unique pure-strategy Nash equilibrium.
Persistent link: https://www.econbiz.de/10011282485
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Auctioning risk: The all-pay auction under mean-variance preferences
Klose, Bettina; Schweinzer, Paul - 2012
We develop the idea of using mean-variance preferences for the analysis of the first-price, all-pay auction. On the bidding side, we characterise the optimal strategy in symmetric all-pay auctions under mean-variance preferences for general distributions of valuations and any number of bidders....
Persistent link: https://www.econbiz.de/10010316830
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Bad news turned good: Reversal under censorship
Smirnov, Aleksei; Starkov, Egor - 2018
Sellers often have the power to censor the reviews of their products. We explore the effect of these censorship policies in markets where some consumers are unaware of possible censorship. We find that if the share of such "naive" consumers is not too large, then rational consumers treat any bad...
Persistent link: https://www.econbiz.de/10011969218