We study minority games in efficient regime. By incorporating the utility function and aggregating agents with similar strategies we develop an effective mesoscale notion of state of the game. Using this approach, the game can be represented as a Markov process with substantially reduced number...

We consider a zero-sum stochastic differential controller-and-stopper game in which the state process is a controlled diffusion evolving in a multidimensional Euclidean space. In this game, the controller affects both the drift and diffusion terms of the state process, and the diffusion term can...

There is continuing debate about what explains cooperation and self-sacrifice in nature and in particular in humans. This paper suggests a new way to think about this famous problem. I argue that, for an evolutionary biologist as well as a quantitative social scientist, the triangle of two...

When the repeated prisoner's dilemma setup is generalized to allow for a unilateral breakup, maximal efficiency in equilibrium remains an open question. With restrictions of simple symmetry with eternal mutual cooperation, defection, or (matched) alternation on the equilibrium path, we describe...

The novelty of our model is to combine models of collective action on networks with models of social learning. Agents are connected according to an undirected graph, the social network, and have the choice between two actions: either to adopt a new behavior or technology or stay with the default...

This paper presents a complete description and the results of the Looking Forward Approach for cooperative differential games with transferable utility. The approach is used for constructing game theoretical models and defining solutions for conflict-controlled processes where information about...

In this paper we try to quantify/measure the main factors that influence the equilibrium outcome and pursued strategies in a simplistic model for the use of fossil versus green energy over time. The model is derived using the standard Solow macro-economic growth model in a two-country setting...

I study sequential contests where the efforts of earlier players may be disclosed to later players by nature or by design. The model has a range of applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of the commons. I show that information about other...

Under natural assumptions, we show that the set of Stationary Markov Perfect Equilibria in pure strategies is non-empty for stochastic repeated games with complementarities. We characterize the set of extremal SMPE as unique fixed points of well-chosen contractions. Those extremal equilibria can...

Many, if not most, personalistic dictatorships end up with a disastrous decision such as Hitler’s attack on the Soviet Union, Hirohito’s government launching a war against the United States, or Putin’s invasion of Ukraine in February 2022. Even if the decision is not ultimately fatal for...