A model of the economic system with the property rights distributed among several agents is considered. The effect of property rights allocation on the economic efficiency of the management strategies is studied.

This paper analyzes the dynamic interaction between two regions with interconnected river basins. Precipitation is higher in one river-basin while water productivity is higher in the other. Water transfer increases productivity in the recipient basin, but may cause environmental damage in the...

In the competition of banking sector in China, to maximize the amount of soft information control is an important goal. In an n-dimensional Euclidean space, there exists Nash equilibrium for two different banks in the competition of soft information control. Keeping the same competitive strategy...

In future smart grids, the electricity suppliers can modify the customers' load consumption pattern by implementing appropriate DSM (demand side management) programs using smart meters. Most of the existing studies on DSM, only consider one utility company in the supplier side. In this paper,...

We introduce a class of communication equilibria, which we call self-fulfilling mechanisms, and show that they provide a game-theoretic foundation to rational expectations equilibria. LetEbe an exchange economy with differential information. We associate a strategic market gameΓ(E) withE. We...

In this paper, we study a non cooperative game with payoff functions involving fuzzy parameters. We introduce a concept of solution for this game that we call α-N-S- equilibrium. Our definition is derived from the concept of N-S equilibrium introduced by Zhukovskii for a non cooperative game...

This paper investigates generators’ strategic behaviors in contract signing in the forward market and power transaction in the electricity spot market. A stochastic equilibrium program with equilibrium constraints (SEPEC) model is proposed to characterize the interaction of generators’...

This paper investigates generators’ strategic behaviors in contract signing in the forward market and power transaction in the electricity spot market. A stochastic equilibrium program with equilibrium constraints (SEPEC) model is proposed to characterize the interaction of generators’...

A new mechanism that substantially mitigates social dilemmas is examined theoretically and experimentally. It resembles the voluntary contribution mechanism (VCM) except that in each decision round subjects are ranked and then grouped according to their public contribution. The game has multiple...