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In part I of this paper, we proposed a Mixed-Integer Linear Program (MILP) to analyze imperfect competition of oligopoly producers in two-stage zonal power markets. In part II of this paper, we propose a solution algorithm which decomposes the proposed MILP model into several subproblems and...
Persistent link: https://www.econbiz.de/10011943407
In this paper, we provide the sufficient conditions for a Markov perfect equilibrium in pure strategies to exist for a class of stochastic games with finite horizon, in which any stage game has strategic complementarities. In contrast to previous studies (e.g., Curtat (1996) and Amir (2002), we...
Persistent link: https://www.econbiz.de/10014182644
This paper examines strategic adaptation in participants’ behavior conditional on the type of their opponent. Participants played a constant-sum game for 100 rounds against each of three pattern-detecting computer algorithms designed to exploit regularities in human behavior such as...
Persistent link: https://www.econbiz.de/10014052194
We consider any network environment in which the 'best shot game' is played. This is the case where the possible actions are only two for every node (0 and 1), and the best response for a node is 1 if and only if all her neighbors play 0. A natural application of the model is one in which the...
Persistent link: https://www.econbiz.de/10014205787
Persistent link: https://www.econbiz.de/10014220176
Qualitative coalitional games (QCG) are representations of coalitional games in which self interested agents, each with their own individual goals, group together in order to achieve a set of goals which satisfy all the agents within that group. In such a representation, it is the strategy of...
Persistent link: https://www.econbiz.de/10014222511
Both in game theory and in general equilibrium theory there exists a number of universally stable adjustment processes. In game theory these processes typically serve the role of selecting a Nash equilibrium. Examples are the tracing procedure of Harsanyi and Selten or the equilibrium selection...
Persistent link: https://www.econbiz.de/10014160968
Understanding whether preferences are sensitive to the frame has been a major topic of debate in the last decades. For example, several works have explored whether the dictator game in the give frame gives rise to a different rate of pro-sociality than the same game in the take frame, leading to...
Persistent link: https://www.econbiz.de/10014113704
We conduct a laboratory experiment and parallel computational adaptive agent simulations on unraveling of contract dates in two-sided matching markets inspired by the entry-level professional labor markets for medical interns in Britain. Experimental design consists of decentralized and mixed...
Persistent link: https://www.econbiz.de/10014124279
This paper presents DSGE Nash, a toolkit to solve for pure strategy Nash equilibria of global games in general equilibrium macroeconomic models. Although primarily designed to solve for Nash equilibria in DSGE models, the toolkit encompasses a broad range of options including solutions up to the...
Persistent link: https://www.econbiz.de/10014076795