A two-stage game is used in this paper to model a long-run market with spatially separated producers and with multi-period demands: first, firmas simultaneously and independently invest their capacities; second, after capacities are set up in the first stage and made public, firms engage in a...

We investigate the effectiveness of tax and transfer policies in correcting market distortions when the economy is imperfectly competitive. We perform this analysis in the context of an exchange model representing a bilateral oligopoly situation, which constitutes a particular example of a...

We introduce a procedure that uses basic typological charasteristics of equilibrium correspondences of standard equilibrium concepts, to define broad equivalence classes of finite generic games in normal form. The proposed procedure is viewed as a potentially useful way of both organizing the...

An oligopoly with spatially dispersed producers and consumers and with multi-period demands is modeled in this paper.

We axiomatize the inner core in a similar way as the one proposed by Aumann (1985)in order to characterize the NTU value.

In perfectly competitive economies under uncertainty, there is a well-known equivalence between a formulation with contingent goods and a formulation with state-specific securities followed by spot markets for goods. In this paper, I examine whether this equivalence carries over in a particular...

We explore the consequences of the assumptions used in modern cryptography when applied to repeated games with public communication. Technically speaking, we model agents by polynomial Turing machines and assume the existence of a trapdoor function. Under these conditions, we prove a Folk...

Two approaches have been proposed in the literature to refine the rationalizability solution concept: either assuming that players make small errors when playing their strategies, or assuming that there is a small amount of payoff uncertainty. We show that both approaches lead to the same...

International environmental agreements aiming at correcting negative externalities generated by transboundary pollution are difficult to achieve for many reasons. Important obstacles arise from asymmetry in costs and benefits, and instability may occur due to the fact that coalitions of...

In this paper we show, via some simple examples, that also in the class of games we are dealing with, there are perfect equilibria that are not proper and, moreover, some "proper" outcome is not induced by any stable set. Furthermore, we xhow that the perfect concept does not appear restrictive...