We define a hypergraph by a set of associations which consist of nonexclusive two or more players. It is a generalization of a graph (or a network) in the sense that an association, the counterpart of a link in a hypergraph, connects any number of nodes, not simply a pair of nodes. We...

Is it better to apply effort to increase personal consumption, or control what one wants? The model presented here provides a characterization of demand for self control, namely, its responsiveness to price and risk. Unlike most other models of self control, the model does not identify self...

This paper reconsiders the problem of optimal law enforcement when the apprehension probability depends on the offense rate as well as policing expenditures. A natural consequence of such an apprehension probability is the possible multiplicity of the equilibrium due to strategic...