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Institutional Equilibrium and Equilibrium Institutions
Shepsle, Kenneth A. - 1983
"This theme paper focuses on political institutions and their effects on social choice. Institutions are argued to play a mediating rolebetween the preferences of individuals and social choices. In addition to playing an endogenous role in molding and channeling preferences, institutions...
Persistent link: https://www.econbiz.de/10009468358
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Dynamic stability in repeated games
Puente Díaz, Sergio - 2006
modification of the available theory is needed: we need to relax the assumption that the game starts in a given period. Under this …
Persistent link: https://www.econbiz.de/10012530129
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14.123 Microeconomic Theory III, Spring 2009
Eso, Peter - 2009
This half-semester course discusses decision theory and topics in game theory. We present models of individual decision …, supermodularity, monotone comparative statics, background risk, game theory, rationalizability, iterated strict dominance multi …-stage games, sequential equilibrium, trembling-hand perfection, stability, signaling games, theory of auctions, global games …
Persistent link: https://www.econbiz.de/10009432546
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Investment Strategies under Uncertainty: Theory and evidence of preemption in case of geographical market entrance
Karoly, Andrea - 2007
This thesis develops an equilibrium framework for strategic exercise of geographical market entry option. The theoretical model analyses the impact of asymmetries of the competing firms such as follower entry barrier and asymmetric profitability on the optimal market entry timing and firm...
Persistent link: https://www.econbiz.de/10009484808
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Learning by trial and error
Young, H. Peyton - 2008
A person learns by trial and error if he occasionally tries out new strategies, rejecting choices that are “erroneous” in the sense that they do not lead to higher payoffs. In a game, however, strategies can become erroneous due to a change of behavior by someone else. Such passive errors...
Persistent link: https://www.econbiz.de/10009441532
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Market Power in the England and Wales Wholesale Electricity Market 1995-2000
Sweeting, Andrew - 2004
This paper shows that generators exercised increasing market power in the England and Wales wholesale electricity market in the second half of the 1990s despite declining market concentration. It examines whether this was consistent with static, non-cooperative oligopoly models, which are widely...
Persistent link: https://www.econbiz.de/10009441995
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INFECTIOUS DISEASE, PRODUCTIVITY, AND SCALE IN OPEN AND CLOSED ANIMAL PRODUCTION SYSTEMS
Hennessy, David A.; Roosen, Jutta; Jensen, Helen H. - 2004
Comparative advantage motivates large trade flows in feeder animals throughout the world. Trade creates externalities when animal diseases can spread beyond the purchasing farm. When growers can choose between open and closed production systems, Nash equilibrium will likely involve socially...
Persistent link: https://www.econbiz.de/10009443088
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Emission Permits Trade of Carbon Based on the Game Theory of Double Auction
Liu, Na; He, Jixin; Hou, Ning; Gu, Kaiping - 2009
As the world's largest carbon resources country with relatively great carbon emission, China in has just started its carbon trade. China is only a passive participant in international carbon trading market, rarely participating in the project of Clean Development Mechanism (CDM). Therefore,...
Persistent link: https://www.econbiz.de/10009446517
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Machinery sharing by agribusiness firms: methodology, application, and simulation
Mjelde, James W. (contributor) - 2008
Machinery investments represent a substantial portion of agribusiness firms’ costs. Because of high machinery costs, variable profit margins, and increasing competition, agribusiness managers continually seek methods to maintain profitability and manage risk. One relatively new method is...
Persistent link: https://www.econbiz.de/10009465057
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Competition between information service providers and toll road operators: Modeling frameworks
Szeto, WY - 2007
This article investigates whether there are strategic interactions between private traveler information service providers (ISPs) and private toll road operators (TOs), whose objectives are profit-driven. For this purpose, a multiclass stochastic user equilibrium assignment model capturing the...
Persistent link: https://www.econbiz.de/10009471362