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Despite descriptive empirical evidence on start-up numbers and survival rates of young firms, the interaction of market entry decisions and reactions of incumbent competitors is still insufficiently understood in the entrepreneurship literature. Repeated games offer a suitable theoretical...
Persistent link: https://www.econbiz.de/10010892212
This paper is concerned with the subject of how the three main approaches to model aggregate fluctuations are related. That is, we are interested in the relation between real business cycle models, endogenous business cycle models and sunspot equilibria models. It is shown that there exists an...
Persistent link: https://www.econbiz.de/10005256820
I present and study an evolutionary model of immigration and culturaltransmission of social norms in a set-up where agents are repeatedly matchedto play a one-shot interaction prisoner´s dilemma. Matching can be non-randomdue to limited integration (or population viscosity). The latter refers...
Persistent link: https://www.econbiz.de/10005515909
Persistent link: https://www.econbiz.de/10005478667
The paper deals with a cooperative game theory analysis of the economics of international agreements on climate change.
Persistent link: https://www.econbiz.de/10005478927
The authors present a constructivist approach for teaching game theory, on the basis, in part, of Axelrod’s research approach. Using the Axelrod tournament multi-user system (ATMUS) software, students create strategies for a repeated prisoner’s dilemma (RPD). Later, these...
Persistent link: https://www.econbiz.de/10005464433
Lloyd Shapley is considered one of the pioneers of game theory. His most prominent contributions are the inception and study of value theory and core theory. These two theories are the key to solving problems involving the allocation of goods or payoffs achievable through cooperation....
Persistent link: https://www.econbiz.de/10011141073
This article presents a stochastic dynamic Generalized Nash-Cournot model to describe the evolution of the natural gas markets. The major gas chain players are depicted including: producers, consumers, storage, and pipeline operators, as well as intermediate local traders. Our economic structure...
Persistent link: https://www.econbiz.de/10011106572
The invasion by the spreading species is one of the most serious threats to biodiversity and ecosystem functioning. Despite a number of empirical and theoretical studies, there is still no general model about why or when settlement becomes invasion. The purpose of this work is to test a model of...
Persistent link: https://www.econbiz.de/10011155485
The theory of games (or game theory) is a mathematical theory that deals with the general features of competitive situations. It involves strategic thinking, and studies the way people interact while making economic policies, contesting elections and other such decisions. There are various types...
Persistent link: https://www.econbiz.de/10011166059