We introduce a class of games with complementarities that has the quasisupermodular games, hence the supermodular games, as a special case. Our games retain the main property of quasisupermodular games: the Nash set is a nonempty complete lattice. We use monotonicity properties on the best reply...

The main objective of this paper is to show that when countries conforming a block that makes what some specialists have called: regionalism or integration -- having between them big asymmetries -- the policy to threat to leave the block can be a very efficient policy for those countries more...

The main findings of the theory on the private provision of public goods under the assumptions of identical individuals and normality of both the public good and private consumption are that: 1) there exists a unique Nash equilibrium pattern of contributions in which everybody contributes the...

We show that if limit orders are required to vary smoothly, then strategic (Nash) equilibria of the double auction mechanism yield competitive (Walras) allocations. It is not necessary to have competitors on any side of any market: smooth trading is a substitute for price wars. In particular,...

The main results of the traditional theory of private provision of public goods in the case of identical individuals are: 1) there exists a unique Nash equilibrium pattern of contributions in which everybody contributes the same amount (Bergstrom et al. [1986]); 2) this pattern is locally stable...

In this paper we demonstrate a new method for computing approximate Nash equilibria in n-person games. Strategy spaces are assumed to be represented by simplices, while payoff functions are assumed to be concave. Our procedure relies on a simplicial algorithm that traces paths through the set of...

The main purpose of this paper is to show that the conflict between the considerations involving economic efficiency and those of distributive justice, in the context of assigning liability, is not as sharp as is generally believed to be the case. The condition of negligence liability which...

We consider estate division problems, a generalization of bankruptcy problems. We show that in a direct revelation claim game, if the underlying division rule satisfies efficiency, equal treatment of equals, and weak order preservation, then all (pure strategy) Nash equilibria induce equal...

A major issue within the realm of Antitrust policy is the regulation of existing monopolies. We describe a new potential indirect scheme for regulating a natural monopoly that arises from high entry cost. The approach involves minimal government intervention, and it is based on encouraging entry...