Showing 1 - 10 of 90
Persistent link: https://www.econbiz.de/10010188172
In an infinite horizon model, a leader of a group of citizens exerts effort in each period to maintain a public good that enhances the profits of a group of kingmakers. In each period, the kingmakers decide whether to overthrow the leader so as to have a chance of becoming the leader. Consistent...
Persistent link: https://www.econbiz.de/10005827235
This paper develops and analyzes a queueing model to examine the role of patient choice on the high rate of organ refusals in the kidney transplant waiting system. The model is an M/M/1 queue with homogeneous patients and exponential reneging. Patients join the waiting system and organ...
Persistent link: https://www.econbiz.de/10009218826
We build a workable game of common-property resource extraction under rational Bayesian learning about the renewal prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response functions of others. What we find about the role of...
Persistent link: https://www.econbiz.de/10008753059
We build a workable game of common-property resource extraction under rational Bayesian learning about the renewal prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response functions of others. What we ?find about the role of...
Persistent link: https://www.econbiz.de/10008764309
We study the existence of uniform correlated equilibrium payoffs in stochastic games. The correlation devices that we use are either autonomous (they base their choice of signal on previous signals, but not on previous states or actions) or stationary (their choice is independent of any data and...
Persistent link: https://www.econbiz.de/10010861535
We give new proofs of existence of the limit of the discounted values for two person zero-sum games in the following frameworks: incomplete information, absorbing, recursive. The idea of these new proofs is to use some comparison criteria.
Persistent link: https://www.econbiz.de/10010706592
We prove that, in every stochastic game with finitely many states and actions, there exists at least one state, starting from which an equilibrium payoff exists. This is achieved by proving that there exists a solvable set. This generalizes to an arbitrary number of players a result due to...
Persistent link: https://www.econbiz.de/10010707414
We consider the general model of zero-sum repeated games (or stochastic games with signals), and assume that one of the players is fully informed and controls the transitions of the state variable. We prove the existence of the uniform value, generalizing several results of the literature. A...
Persistent link: https://www.econbiz.de/10010708801
We study a continuous-time problem of public good contribution under uncertainty for an economy with a finite number of agents. Each agent aims to maximize his expected utility allocating his initial wealth over a given time period between private consumption and repeated but irreversible...
Persistent link: https://www.econbiz.de/10011164360