This paper investigates a multi-periodic channel optimization facing uncertain, price dependent, and dynamic demand. The picture of the market uncertainty is incomplete, and only the price and time-dependent mean and standard deviation are known and may depend on the price history. The actual...

In an infinite-time decentralized sequence economy, agents use fiat money to bridge markets as if they make trades in a centralized economy, to avoid huge transaction cost that all agents' going together must incur. The model in this paper formulates the process how agents decide the fiat...

This paper addresses firstly why people have to use fiat money and then why they are rationally willing to accept it from the perspective of general equilibrium by using dynamic game to determine agents' expectation of its purchasing power in unrevealed future. Its model formulates the process...

We study the design of mechanisms that implement Lindahl or Walrasian allocations and whose Nash equilibria are dynamically stable for a wide class of adaptive dynamics. We argue that supermodularity is not a desirable stability criterion in this mechanism design context, focusing instead on...

We study the design of mechanisms that implement Lindahl or Walrasian allocations and whose Nash equilibria are dynamically stable for a wide class of adaptive dynamics. We argue that supermodularity is not a desirable stability criterion in this mechanism design context, focusing instead on...

We study the design of mechanisms that implement Lindahl or Walrasian allocations and whose Nash equilibria are dynamically stable for a wide class of adaptive dynamics. We argue that supermodularity is not a desirable stability criterion in this mechanism design context, focusing instead on...

This paper presents a complete survey of the use of homotopy methods in game theory. Homotopies allow for a robust computation of game-theoretic equilibria and their refinements. Homotopies are also suitable to compute equilibria that are selected by various selection theories. We present all...

In this article, we propose a Snowdrift Game with costly punishment in a spatial-structured two-population arrangement. In order to generate the results, we use the Agent Based Simulation (ABS) model. The numerical simulations as well as the dynamics observed in the ABS are analyzed and...

Stochastic games offer a rich mathematical structure that makes it possible to analyze situations with heterogeneous and interacting economic agents. Depending on the actions of the economic agents, the economic environment changes from one period to another. We focus on stationary equilibrium,...

Until now most research in dynamic games focus on models with quadratic objective functions because of practical considerations. But in reality, all problems are not quadratic. In this paper, we solve a differential game where players have non-quadratic preferences. In particular we consider an...