Investigating the strategic advantage of negatively interdependent preferences in action monotonic games, we derive characterizing conditions both for general action monotonic games and for the subclass of action monotonic games with spillovers. Examples demonstrate the generality of our...

This paper introduces a two-stage union-oligopoly-council model of wage and employment determination wherein at the first stage wage is negotiated through collective bargaining and at the second stage employment in each firm is co-determined by the employer and its works council. We provide a...

Der Nobelpreis für Wirtschaftswissenschaften 2007 wurde an Leonid Hurwicz, Eric S. Maskin und Roger B. Myerson für Ihre grundlegenden Beiträge zur Mechanismus-Design-Theorie vergeben. Worin liegt der Erfolg der Mechanismus-Design-Theorie begründet? Was sind ihre Perspektiven?

It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...