This contribution deals with the fundamental critique in Dinar et al. (1992, Theory and Decision 32) on the use of Game … theory in water management: People are reluctant to monetary transfers unrelated to water prices and game theoretic solutions …

equilibrium theory. A significant result that we obtain is that a strategy profile is a competitive equilibrium if and only it is …

intermediate socially optimal level of bank competition. We provide a novel theory of bank opacity. The cost of opacity is more … runs, and face a threat of entry. Higher competition increases deposit rates and bank fragility, resulting in an … is to deter entry of competitors, which increases bank charter value. Banks can be excessively opaque, motivating …

The context of competition -- Game theory and gaming -- Measurement and modeling -- One-period markets -- Endogenizing …