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of players. The social structure is utilized to refine the core of the game. For every coalition the relative strength of … stable core is the set of socially stable elements of the core. We show that the socially stable core is non-empty if the … game itself is socially stable. In general the socially stable core consists of a finite number of faces of the core and …
Persistent link: https://www.econbiz.de/10005137108
structure is utilized to refine the core of the game. For every coalition the relative strength of a player within that … the collection of coalitions that can attain it, all players have the same power. The socially stable core is the set of … socially stable elements of the core. We show that the socially stable core is non-empty if the game itself is socially stable …
Persistent link: https://www.econbiz.de/10011257354
General deviation measures are introduced and studied systematically for their potential applications to risk management in areas like portfolio optimization and engineering. Such measures include standard deviation as a special case but need not be symmetric with respect to ups and downs. Their...
Persistent link: https://www.econbiz.de/10012737965
General deviation measures, which include standard deviation as a special case but need not be symmetric with respect to ups and downs, are defined and shown to correspond to risk measures in the sense of Artzner, Delbaen, Eber and Heath when those are applied to the difference between a random...
Persistent link: https://www.econbiz.de/10012740177
In this paper we extend the basic model of Cournot competition to the case where both the demand function and the cost functions of each firm depend on the amounts produced by competitors. In this modified setting, proving existence of equilibria becomes harder. We develop a generalization of...
Persistent link: https://www.econbiz.de/10010927703
Exploitation of non–renewable resources is an intensively studied field of environmental economics in the last century. Since the influential Hotelling’s paper a huge progress is made in the depletable resources literature. Although a variety of methodologies is used in that problem’s...
Persistent link: https://www.econbiz.de/10011261011
The purpose of this paper is to prove the equal treatment property for the $\star$-core allocations of an atomless … economy without any condition on the data of economy. This result prompts the same property for the core allocations. …
Persistent link: https://www.econbiz.de/10005370608
The paper introduces the subject of terrorism and counterterrorism by means of a two-person bimatrix game that provides some insight into the behavior of the two players. We then examine three important areas in counterterrorism tasks: the detection of terrorist cells and how to render them...
Persistent link: https://www.econbiz.de/10009421992
The paper investigates the stability of the International Environmental Agreement in a model of emission reduction. We consider a two stage game, in which in the first stage each country decides whether or not to join the agreement while, in the second stage, the quantity of emissions reduction...
Persistent link: https://www.econbiz.de/10008528380
Many economic and social situations can be represented by a digraph. Both axiomatic and iterative methods to determine the strength or power of all the nodes in a digraph have been proposed in the literature. We propose a new method, where the power of a node is determined by both the number of...
Persistent link: https://www.econbiz.de/10005136985