In this contribution we relate the respective works of two important economists, Friedrich von Hayek and Michael Bacharach, namely one of the main intellectual leaders of the Austrian Schools and one of the most original game theorists. Hayek and Bacharach are two authors - few in number – who...

This paper has a dual purpose. First, I present a new modeling of partial naivete, and apply this to the analysis of procrastination. The decision maker is assumed to have stationary behavior and to be partially naive in the sense of perceiving that his current preferences may persist in the...

Ken Arrow (1998) asks, “What has economics to say about racial discrimination?” He replies – entirely correctly – that racial “segregation within an industry – that is, firms with either all black or all white labor forces” – may be explained by economic theory, but “the...

The authors show how microeconomic concepts and principles are applicable to the study of terrorism. The utility maximization model provides insights into both terrorist resource allocation choices and government counterterrorism efforts, while basic game theory helps characterize the strategic...

This paper has a dual purpose. First, I present a new modeling of partial naivete, and apply this to the analysis of procrastination. The decision maker is assumed to have stationary behavior and to be partially naive in the sense of perceiving that his current preferences may persist in the...

In theoretical analyses on terrorism and the media, the structure of the media market has thus far been neglected. The present paper adopts a multi-sided market framework in order to explore the ways in which the markets for terrorism, advertising, and the media influence each other. Although...

The mainstream model of option pricing is based on an exogenously given process of price movements. The implication of this assumption is that price movements are not affected by actions of market participants. However, if we assume that there are indeed impacts on the price movements it no...

The rate of deployment and adoption issues of new network technologies, IPv6 in particular, have recently been hotly debated in the research community. However, the question of how protocols migrate, especially the dynamics of migration, to new paradigms is still largely open. In this paper, we...

The paper discusses the dimensioning strategies of two network providers (operators) that supply channels to the same population of users in a competitive environment. Usersare assumed to compete for best service (lowest blocking probability of new request), while operators wishto maximize their...

Industries with mixed oligopoly are exceedingly popular all over the world, especially in developing countries, such as China. This paper highlights the innovation strategies of mixed duopoly with a (semi-) public firm and another private firm, and the effects of mixed oligopoly on innovation...