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In general, the result of the elimination of weakly dominated strategies depends on order. We define nice weak dominance. Under nice weak dominance, order does not matter. We identify an important class of games under which nice weak dominance and weak dominance are equivalent, and so order...
Persistent link: https://www.econbiz.de/10012235879
This paper uses results of lattice theory, convex analysis, and nonsmooth analysis to establish conditions for the existence of pure-strategy Nash equilibria when payoff functions are continuous but not quasi-concave. A class of economic games for which this theory is important is given.
Persistent link: https://www.econbiz.de/10012235880
We consider the dynamic private provision of funds to a project that generates a flow of public benefits. Examples include fund drives for public television or university buildings. The games we study have complete information about payoffs, allow each player to contribute each period, and let...
Persistent link: https://www.econbiz.de/10012236000
Procurement practices are affected by uncertainty regarding suppliers' costs, the nature of competition among suppliers, and uncertainty regarding possible collusion among suppliers. Buyers dissatisfied with bids of incumbent suppliers can cancel their procurements and resolicit bids after...
Persistent link: https://www.econbiz.de/10010427171
In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find that partial ownership arrangements can be more profitable for the acquiring and acquired firm because they can result in a greater dampening of competition. We also derive...
Persistent link: https://www.econbiz.de/10010274387
The agency model used by Apple and other platform providers such as Google allows upstream firms (content providers like book publishers and developers of apps) to choose the retail prices of their products (RPM) subject to a fixed revenue-sharing rule. We show that (i) this leads to higher...
Persistent link: https://www.econbiz.de/10010319390