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Policy Competition, Imitation and Coordination Under Uncertainty
Hefeker, Carsten - 2022
The paper analyzes under what circumstances policymakers experiment with policies with uncertain outcomes, when they prefer to imitate policies initiated in other countries, and when they prefer to coordinate policies internationally. Policymakers have private costs of active policies and...
Persistent link: https://www.econbiz.de/10013289693
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Preemption Games Under Levy Uncertainty
Boyarchenko, Svetlana - 2011
We study a stochastic version of Fudenberg and Tirole's (1985) preemption game to analyze the effects of jumps in the underlying uncertainty on equilibrium strategies. Two firms contemplate entering a new market where the demand follows a jump-diffusion process. Firms differ is the sunk costs of...
Persistent link: https://www.econbiz.de/10013125149
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Strategic Interactions and Uncertainty in Decisions to Curb Greenhouse Gas Emissions
Insley, Margaret C. - 2019
increases the risk of the game, making cooperative action through a social planner more urgent. Asymmetric damages or asymmetric …
Persistent link: https://www.econbiz.de/10012899158
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Preemption Games Under Levy Uncertainty
Boyarchenko, Svetlana - 2014
We study a stochastic version of Fudenberg -- Tirole's preemption game. Two firms contemplate entering a new market with stochastic demand. Firms differ in sunk costs of entry. If the demand process has no upward jumps, the low cost firm enters first, and the high cost firm follows. If leader's...
Persistent link: https://www.econbiz.de/10013045255
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Risk Aversion and Dynamic Games between Hydroelectric Operators Under Uncertainty
Abbassi, Abdessalem; Dakhlaoui, Ahlem; Tamini, Lota D. - 2014
hydroelectricity producers are risk averse and face demand uncertainty. In each type of market structure we analytically determine the … electricity prices. In the oligopolistic case with symmetric risk aversion coefficient, we determine the conditions under which … (storage) in its competitor’s dams. When there is asymmetry of the risk aversion coefficient, the firm’s hydroelectricity …
Persistent link: https://www.econbiz.de/10014144936
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Uncertainty in a Fisherey Management Game
Engwerda, Jacob C. - 2005
In this paper, we analyze the consequences of taking noise into account in a simple two person fishery management game. Both a stochastic and deterministic formulation are considered. Compared to the noise-free model it is shown that the used stochastic framework has no implications for the...
Persistent link: https://www.econbiz.de/10014065512
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The evolutionary stability of optimism, pessimism and complete ignorance
Schipper, Burkhard - 2005
We provide an evolutionary foundation to evidence that in some situations humans maintain optimistic or pessimistic attitudes towards uncertainty and are ignorant to relevant aspects of the environment. Players in strategic games face Knightian uncertainty about opponents' actions and maximize...
Persistent link: https://www.econbiz.de/10010366542
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Finding common ground when experts disagree : belief dominance over portfolios of alternatives
Baker, Erin; Bosetti, Valentina; Salo, Ahti A. - 2016
We address the problem of choosing a portfolio of policies under "deep uncertainty." We introduce the idea of belief dominance as a way to derive a set of non-dominated portfolios and robust individual alternatives. Our approach departs from the tradition of providing a single recommended...
Persistent link: https://www.econbiz.de/10011504367
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Policy competition, imitation and coordination under uncertainty
Hefeker, Carsten - 2022
The paper analyzes under what circumstances policymakers experiment with policies with uncertain outcomes, when they prefer to imitate policies initiated in other countries, and when they prefer to coordinate policies internationally. Policymakers have private costs of active policies and...
Persistent link: https://www.econbiz.de/10013187549
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Policy competition, imitation and coordination under uncertainty
Hefeker, Carsten - 2022 - Revised, April 2022
The paper analyzes under what circumstances policymakers experiment with policies with uncertain outcomes, when they prefer to imitate policies initiated in other countries, and when they prefer to coordinate policies internationally. Policymakers have private costs of active policies and...
Persistent link: https://www.econbiz.de/10013189168