This paper considers the investment decision of a firm where it has to decide about the timing and capacity. We obtain that in a fast growing market, right after investment the firm produces below capacity, where the utilization rate (the proportion of capacity that is used for production right...

A cooperative game with non-transferable utility (NTU-game) consists of a collection of payoffsets for the subsets of a nite set of players, for which it has to be determined how much payof each player must receive. The core of an NTU-game consists of all payoffvectors that are in the payoff set...

The Shapley value for directed graph (digraph) games, TU games with limited cooperation introduced by an arbitrary digraph prescribing the dominance relation among the players, is introduced. It is defined as the average of marginal contribution vectors corresponding to all permutations that do...

This paper extends the recent literature on equilibria with coordination failures to arbitrary convex sets of admissible prices.We introduce a new equilibrium concept, called quantity constrained equilibrium (QCE), giving a uni.ed treatment to all cases considered in the literature so far.At a...

Let X be a non-empty, compact, convex set in Rn and ° an upper semi-continuous mapping from X to the collection of non-empty, compact, convex subsets of Rn.It is well known that such a mapping has a stationary point on X, i.e. there exists a point in X satisfying that its image under ° has a...