We study the effects of a decrease in trade costs on the spatial distribution of industry in a multi-regional economy, when a rise in the regional population of workers generates higher urban costs. We show that high and low trade costs imply that all regions involve a positive share of the...

The Nash equilibrium concept for strategic form games is based on the assumption of expected utility maximization. Reference dependant utility functions (in which utility is determined not only by an outcome, but also by the relationship of the outcome to a reference point) area better predictor...

In an example with two objects and four bidders, some of which have superadditive values, we characterize the equilibria of a simultaneous ascending auction and compare the revenue and efficiency generated with ones generated by the sequential , the one-shot simultaneous, and the...

In this paper we study the concepts of equilibrium and optimum in static transportation networks with elastic and non-elastic demands. The main mathematical tool of our paper is the theory of variational inequalities. We demonstrate that this theory is useful for proving the existence theorems....

Correlated equilibria and communication equilibria are useful notions to understand the strategic effects of information and communication. Between these two models, a protocol generates information through communication. We define a secure protocol as a protocol from which no individual may...

Given a compact connected component of zeros of a vector field, we give a necessary condition for its asymptotic stability in terms of its index and Euler characteristic.