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On the Solution of Markov-switching Rational Expectations Models

Carravetta, Francesco; Sorge, Marco M. - 2011

This paper describes a method for solving a class of forward-looking Markov-switching Rational Expectations models under noisy measurement, by specifying the unobservable expectations component as a general-measurable function of the observable states of the system, to be determined optimally...

Persistent link: https://www.econbiz.de/10010293377

On the solution of Markov-switching rational expectations models

Carravetta, Francesco; Sorge, Marco M. - 2011

Persistent link: https://www.econbiz.de/10009126073

Attractive evolutionary equilibria

Roorda, Berend; Joosten, Reinoud - 2011

We present attractiveness, a refinement criterion for evolutionary equilibria. Equilibria surviving this criterion are robust to small perturbations of the underlying payoff system or the dynamics at hand. Furthermore, certain attractive equilibria are equivalent to others for certain...

Persistent link: https://www.econbiz.de/10010286754

The refined best-response correspondence in normal form games

Balkenborg, Dieter; Hofbauer, Josef; Kuzmics, Christoph - 2012

This paper provides an in-depth study of the (most) refined best reply correspondence introduced by Balkenborg, Hofbauer, and Kuzmics (2012). An example demonstrates that this correspondence can be very different from the standard best reply correspondence. In two-player games, however, the...

Persistent link: https://www.econbiz.de/10010319972

A characterization of melioration in game theoretic frameworks

Apesteguia, Jose - 2001

The theory of melioration, originally formulated for individual decision-making contexts, is formally extended to a game theoretic framework. This paper proves the existence of a distribution that is a melioration strategy on the part of all players. Further, the question of stability of such a...

Persistent link: https://www.econbiz.de/10011539636

The refined best-response correspondence in normal form games

Balkenborg, Dieter; Hofbauer, Josef; Kuzmics, Christoph - 2012

Persistent link: https://www.econbiz.de/10009523194

Attractive evolutionary equilibria

Roorda, Berend; Joosten, Reinoud - 2011

Persistent link: https://www.econbiz.de/10009409739

Bargaining with Non-Convexities

Herings, P. Jean-Jacques - 2009

We show that in the canonical non-cooperative multilateral bargaining game, a subgame perfect equilibrium exists in pure stationary strategies, even when the space of feasible payoffs is not convex. At such an equilibrium there is no delay. We also have the converse result that randomization...

Persistent link: https://www.econbiz.de/10013155420

Finding all minimal CURB sets

Klimm, Max; Weibull, Jörgen W. - 2009

replies to all probabilistic beliefs over the set. We present an algorithm that computes all minimal sCURB sets in any given … finite game. Runtime measurements on two-player games (where the concepts of CURB and sCURB coincide) show that the algorithm … is considerably faster than the earlier developed algorithm, that of Benisch et al. (2006). -- curb sets ; rational …

Persistent link: https://www.econbiz.de/10003912049

Integrating Bottom-Up into Top-Down: A Mixed Complementarity Approach

Böhringer, Christoph; Rutherford, Thomas F. - 2005

We motivate the formulation of market equilibria as a mixed complementarity problem (MCP) in order to bridge the gap between bottom-up energy system models and top-down general equilibrium models for energy policy analysis. Our objective is primarily pedagogic. We first lay out that the MCP...

Persistent link: https://www.econbiz.de/10010297453