Abstract I analyze a model of patent races for COVID-19 vaccines under alternative liability rules. The first inventor of the vaccine gets the monopoly rent, but must assume full liability from its side effects. In this model, firms choose two kinds of investments, one for inventing a vaccine...

Due to the widespread use of cloud services, the need for proper and dynamic distribution will redouble the resources. One of the most complex problems in cloud environments is resource allocation such that on one hand the resource provider should obtain maximum utilization and on the other hand...

In this paper we discuss a new tort liability rule, which we call super-symmetric comparative negligence and vigilance. When both injurer and victim in an accident are negligent, it provides for liability shares that depend on the degrees of negligence of the two parties, similar to the standard...

We present a perfect Nash equilibrium in which the creator of a work, motivated by economic considerations, selectively enforces her own copyright. In fact, the creator may not only permit, but may strategically promote infringement of the copyright, thereby participating indirectly in predatory...

Abstract Genericity analysis is widely used to show that desirable properties that fail in certain "knife-edge" economic situations nonetheless obtain in "typical" situations. For finite-dimensional spaces of parameters, the usual notion of genericity is full Lebesgue measure. For infinite...

This paper provides a recipe to generate definitions of possibility, which is equivalent to the standard approach of deriving possibility from belief/knowledge. Savage's notion of nonnullity is therefore an example that fits into our framework. The recipe is used to create a new definition of...

This paper extends models of renewable resources to an economy with two sectors, resource extraction and production. In contrast to one sector models, we show that the optimal strategies in the single-firm model are essentially different from those in the two-player model. In the single-player...

Summary This paper is a brief history of game theory with its main theme being the nature of the decision makers assumed in the various stages of its historical development. It demonstrates that changes in the “image of man” nourished the developments of what many believe to be progress in...

Zusammenfassung Der Preisanpassungsprozess im Oligopol wird untersucht. Unter recht allgemeinen Voraussetzungen an die (lineare) Preis-Nachfrage-Funktionen der Akteure werden verschiedene Strategien diskutiert, wie z. B. die klassische Cournot-Nash-Lösung, die Launhardt-Hotelling-Strategie, die...

Abstract We propose a new method for solving nonlinear dynamic tracking games using a meta-heuristic approach. In contrast to ‘traditional’ methods based on linear-quadratic (LQ) techniques, this derivative-free method is very flexible with regard to the objective function specification. The...