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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/10009523194

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

Chapter 5 Numerical solution of dynamic economic models

Santos, Manuel S. - In: Handbook of macroeconomics : volume 1, part A, (pp. 311-386). 1999

This chapter is concerned with numerical simulation of dynamic economic models. We focus on some basic algorithms and assess their accuracy and stability properties. This analysis is useful for an optimal implementation and testing of these procedures, as well as to evaluate their performance....

Persistent link: https://www.econbiz.de/10014024245

The market resources method for solving dynamic optimization problems

Kabukçuoğlu, Ayşe; Martínez-García, Enrique - 2016 - This draft: June 16, 2016

algorithm is simple to implement and provides advantages in terms of speed and accuracy over Howard’s policy improvement … algorithm. Codes are available. …

Persistent link: https://www.econbiz.de/10011509578

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

Chapter 44 Non-zero-sum two-person games

Raghavan, T.E.S. - In: Handbook of game theory with economic applications : …, (pp. 1687-1721). 2002

Nash equilibrium in completely mixed games, are very special to two-person games. The Lemke-Howson algorithm and … Rosenmüller's algorithm which locate a Nash equilibrium in finite arithmetic steps are not extendable to general n -person games …

Persistent link: https://www.econbiz.de/10014024501

A Numerical Algorithm to Find All Scalar Feedback Nash Equilibria

Engwerda, Jacob Christiaan - 2013

In this note we generalize a numerical algorithm presented in [9] to calculate all solutions of the scalar algebraic …-quadratic differential game. The algorithm is based on calculating the positive roots of a polynomial matrix …

Persistent link: https://www.econbiz.de/10013076437

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

Combining Top-Down and Bottom-up in Energy Policy Analysis: A Decomposition Approach

Rutherford, Thomas F.; Böhringer, Christoph - 2006

The formulation of market equilibrium problems as mixed complementarity problems (MCP) permits integration of bottom-up programming models of the energy system into top-down general equilibrium models of the overall economy. Despite the coherence and logical appeal of the integrated MCP...

Persistent link: https://www.econbiz.de/10010297515

On securitization, market completion and equilibrium risk transfer

Horst, Ulrich; Pirvu, Traian A.; Dos Reis, Gonçalo - 2010

We propose an equilibrium framework within which to price financial securities written on non- tradable underlyings such as temperature indices. We analyze a financial market with a finite set of agents whose preferences are described by a convex dynamic risk measure generated by the solution of...

Persistent link: https://www.econbiz.de/10010270699