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Should i remember more than you? : on the best response to factor-based strategies

Levínský, René; Neyman, Abraham; Zelený, Miroslav - 2010

In this paper we offer a new approach to modeling strategies of bounded complexity, the so-called factor-based strategies. In our model, the strategy of a player in the multi-stage game does not directly map the set of histories to the set of her actions. Instead, the player's perception of is...

Persistent link: https://www.econbiz.de/10008747625

Endogenous networks in random population games

Fagiolo, Giorgio (contributor); Marengo, Luigi (contributor) - 2003 - [Elektronische Ressource]

In the last years, many contributions have been exploring population learning in economies where myopic agents play bilateral games and are allowed to repeatedly choose their pure strategies in the game and, possibly, their opponents in the game. These models explore bilateral stage-games...

Persistent link: https://www.econbiz.de/10002133011

Exploration and Exhaustibility in Dynamic Cournot Games

Ludkovski, Michael - 2011

We study the stochastic effect of resource exploration in dynamic Cournot models of exhaustible resources, such as oil. We first treat the case of a monopolist who may undertake costly exploration to replenish his diminishing reserves. We then consider a stochastic game between such an...

Persistent link: https://www.econbiz.de/10013130312

A Theory of Political Cycles

Martinez, Leonardo - 2012

We study how the proximity of elections affects policy choices in a model in which policymakers want to improve their reputation to increase their reelection chances. Policymakers' equilibrium decisions depend on both their reputation and the proximity of the next election. Typically, incentives...

Persistent link: https://www.econbiz.de/10013096988

Cleaner Technologies and the Stability of International Environmental Agreements

Benchekroun, Hassan - 2012

lower global welfare. We further show that the higher the stock of pollution at the instant when the cleaner technology is …

Persistent link: https://www.econbiz.de/10013104564

Do Increases in Environmental Risk Reduce Welfare? A Dynamic Game Perspective

Benchekroun, Hassan - 2013

in the neighborhood of a risk-free world is welfare-improving, holds even when we consider non-marginal increases in risk …-free world a marginal increase in risk is always welfare reducing. However if the initial value of the risk is sufficiently large … failure from cooperation over emissions and increase welfare …

Persistent link: https://www.econbiz.de/10013081942

Best Response Dynamics with Level-n Expectations in Two-Stage Games

Dawid, Herbert - 2013

This paper analyzes behavior in repeatedly played two-stage games, where players choose actions in both stages according to best replies using 'level-n expectations' about the opponent's actions in both stages. Level-n expectations are recursively defined in a way that a player holding level n...

Persistent link: https://www.econbiz.de/10013085601

Optimal Tariffs on Exhaustible Resources : The Case of a Quantity Setting Cartel

Fujiwara, Kenji - 2013

. Among the three game-theoretic outcomes, the world welfare is highest under the importing country's leadership and lowest …

Persistent link: https://www.econbiz.de/10013091687

Waiting for News in the Market for Lemons

Daley, Brendan - 2013

We study a dynamic setting in which stochastic information about the value of a privately-informed seller's asset is gradually revealed to a market of buyers. We characterize the unique equilibrium in a continuous-time framework. The equilibrium involves periods of no trade or market failure....

Persistent link: https://www.econbiz.de/10013093495

Dynamic Deception

Anderson, Axel - 2012

We explore dynamic deception, such as arises in finance, war, or politics. Our framework subsumes repeated game reputation models, and also includes unbounded intensity models like insider trading as a limiting special case. Our game also generalizes Aumann and Maschler's 1966 paper on repeated...

Persistent link: https://www.econbiz.de/10013112641