This paper studies a two-player machine (finite automaton) game in which an extensive game with perfect information is infinitely repeated. We introduce a new measure of strategic complexity named "multiple complexity", which considers the responsiveness of a strategy to information as well as...

This paper proposes a test of the rank of the sub-matrix of b, where b is a cointegrating matrix. In addition, the sub-matrix of d, an orthogonal complement to b, is investigated. We show that information on the rank of the sub-matrix of b and/or d is useful in several situations. We construct...

We show that when firms have incomplete information about the market demand and their costs, a (Bayesian) Cournot equilibrium in pure strategies may not exist, or be unique. In fact, we are able to construct surprisingly simple and robust examples of duopolies with these features. However, we...

This paper investigates the expectations hypothesis for the Japanese term structure of interest rates using vector error correction models with multiple structural breaks, focusing on how the breaks affect volatility, risk premium and speed of the adjustment toward the equilibrium. Using...

Environmental destructions caused by military activities ("military environmental problems"), though these cause serious damages, don't have taken up as academic research subject. Because getting information on military environmental problems is difficult. To solve this difficulty we use U.S....

We establish uniform continuity of the value for zero-sum games with differential information, when the distance between changing information fields of each player is measured by the Boylan (1971) pseudo-metric. We also show that the optimal strategy correspondence is upper semi-continuous when...

In this paper we present a model of a network or an arrangement of transactions that involve a risky transfer of assets. Transactions are generated endogenously. There is a risk in asset transfers and we are concerned with the question of optimal risk management in such a network. Assets in this...

Few attempts have been made to study entrepreneurs' social networks in local communities. This study empirically explores the relationships between self-employed workers' involvement in local communities and their earnings. Examining whether their weak ties with community members and strong ties...

The descriptive theory of cooperative game with incomplete information developed to date is surveyed. The theory has the potential to provide game-theoretical foundations of economic analysis of the free societies in which organizations (coalitions) as corporations institute a non-market...