Abstract Despite descriptive empirical evidence on start-up numbers and survival rates of young firms, the interaction of market entry decisions and reactions of incumbent competitors is still insufficiently understood in the entrepreneurship literature. Repeated games offer a suitable...

Despite descriptive empirical evidence on start-up numbers and survival rates of young firms, the interaction of market entry decisions and reactions of incumbent competitors is still insufficiently understood in the entrepreneurship literature. Repeated games offer a suitable theoretical...

The paper introduces and discusses some of the most important conceptual ideas in game theory by exploring their implicit answer to the question: Who is a player? It will be illustrated that some of the most celebrated results in game theory rely on different notions of a player, global players...

We introduce a stochastic game in which transition probabilitiesdepend on the history of the play, i.e., the players’past action choices.To solve this new type of game under the limiting average reward crite-rion, we determine the set of jointly-convergent pure-strategy rewardswhich can be...

We consider a continuous-time variant of the classical Economic Lot-Sizing (ELS) problem. In this model, the setup cost is a continuous function with lower bound $K_min 0$, the demand and holding costs are integrable functions of time and the replenishment decisions are not restricted to be...

This paper introduces two set valued Nash equilibrium refinements that are a natural generalization of the concept of stable set of equilibria introduced in Kohlberg and Mertens (1986) and satisfy all the properties defined in Mertens (1989). It also establishes a connection between Nash...

Lloyd Shapley is considered one of the pioneers of game theory. His most prominent contributions are the inception and study of value theory and core theory. These two theories are the key to solving problems involving the allocation of goods or payoffs achievable through cooperation....