This Paper characterises the unique Markov equilibrium in the sequential move, finite horizon pricing duopoly with discounting. Simple, short cycles repeat until the last two periods. For discount factors above 0.75488, there are three-period reaction function cycles and below 0.75488,...

Hierarchy can function as an instrument to channel influence activities or power struggles in organizations. Contrary to what has frequently been argued, we show that multi-divisional organizations may involve lower influence costs than single-tier organizations, even though they offer more...

The decision-making rules of the European Union (EU) are defined in an incomplete contract signed by 15 national governments. The design of the contract defines the set of policy issues where it applies – in decision-making rules i.e. the majority rules and the division of powers among the...

This paper provides a game theoretic model of price formation and order placement decisions in a dynamic limit order market. Investors can choose to post limit orders or to submit market orders. Limit orders result in better execution prices but face a risk of non-execution and a winner’s...

I examine a search model a la' Burdett and Judd (1983). Consumers are embedded in a consumers network, they may costly search for price quotations and the information gathered are non-excludable along direct links. This allows me to explore the effect of endogenous consumers externalities on...

Although reciprocity is a key concept in the social sciences, it is still unclear why people engage in costly reciprocation. In this study, physiological and self-report measures were employed to investigate the role of emotions, using the Power-to-Take Game. In this 2-person game, player 1 can...

This anthology consists of a collection of articles that address two common questions : how institutions emerge from individual actions and how individual actions are shaped by institutions ? What unifies these contributions is the search of a theoretical explanation that overcomes the...

In this paper, we present a more simple and independent proof of Reny's theorem (1998), on the existence of a Nash equilibrium in discontinue game, with a better-reply secure game in a Hausdorff topological vector space stronger than Reny's one. We will get the equivalence if the payoff function...

Studies of the stability of international environmental agreements (IEAs) assumed a benevolent government who maximizes social welfare. The aim of our paper is to develop a theoretical framework in which the Government’s decisions are influenced by green and producer lobbies. To this end, we...

What is the optimum mix of trade policy instruments? Usually governments choose among such instruments as quotas, tariffs, explicit or implicit subsidies. The goal of the project is to consider the possibility of a simultaneous use by the government of quotas (and corresponding license fees) and...