Cooperative investments in R&D are a significant driving force of the modern economy. As it well-known, the R&D investments are uncertain and the strategic alliances create synergies and additional information that increase the success probabilities about R&D projects. The theory of real option...

An extension of Condorcet's paradox by McGarvey (1953) asserts that for every asymmetric relation R on a finite set of candidates there is a strict-preferences voter profile that has the relation R as its strict simple majority relation. We prove that McGarvey's theorem can be extended to...

We investigate the outcome of bargaining when a player’s pay-off from agreement is risky. We find that a risk-averse player typically increases his equilibrium receipts when his pay-off is made risky. This is because the presence of risk makes individuals behave 'more patiently' in bargaining....

This paper describes the historical evolution of the analysis of some aspects of the strategic use of information. The use of mixed strategies aims to create uncertainty on the move to be played or on the private information of the players. In a repeated game framework, strategic behavior when...

This paper gives a concrete example of a nondictatorial, coalitionally strategyproof social choice function for countably infinite societies. The function is defined for those profiles such that for each alternative, the coalition that prefers it the most is gdescribable.h The gdescribableh...

A widely held belief in financial economics suggests that stock prices always adequately reflect all available information. Price movements away from fundamentals are assumed to occur only infrequently, if at all. „False“ prices are supposed to be corrected by the counter-actions of...

We are interested in this work, in capacities which are deformations of probability i.e. v = f o P, we characterize respectively balanced, totally balanced, exact and convex capacities by properties concerning the probability transformation function f. And we give the explicit expression, in the...

This paper studies the evolution of effective pre-play communication in game where a single communication round precedes a simultaneous-move, complete-information game.

Using an updated version of the CWS model (introduced by Eyckmans and Tulkens in Resource and Energy Economics 2003), this paper intends to evaluate with numbers the respective merits of two competing notions of coalition stability in the standard global public goods model as customarily applied...

For each outcome (i.e.~a payoff vector augmented with a coalition structure) of a TU-game with a non-empty coalition structure core there exists a finite sequence of successively dominating outcomes that terminates in the coalition structure core. In order to obtain this result a restrictive...