A standard result in bargaining with symmetric information is that agents exploit all gains from trade, and reach efficient agreements immediately. Models of delayed and inefficient agreements are typically based on asymmetric information regarding bargainer types. However, such models often...

Behavioral economists are increasingly debating the desirability of overconfidence for individual and social welfare. For example, in Gervais and Goldstein's (2003) model of teamwork, a two-player team consisting of one overconfident and one rational agent outperforms a team consisting of two...

We analyse a bargaining game in which two players (the internal stakeholder and the external party) bargain over the allocation of a fixed 'cake'. The internal stakeholder decides whether to bargain directly with the other player (involving Nash Bargaining). On the other hand, the internal...

In the one-shot version of the Prisoners' Dilemma (PD) game, individuals pursue mutually destructive strategies (they both defect). The repeated PD examines whether interactions over time can induce players to adopt cooperative strategies. Cooperation is possible in the infinitely repeated PD....

We develop a participation/ratification/transfer game-theoretic model representing an international environmental agreement. Motivated by the recent COP26 Glasgow agreement attempting to eliminate deforestation activities, we develop a model that analyses the economic and behavioural incentives...

Do prices and returns in the financial markets exhibit observable patterns, or are they truly ‘random walks’, as predicted by the efficient market hypothesis (EMH)? If there are patterns, the natural question becomes, why do we observe such extreme cycles of bubbles (massive over-valuations)...

The Medicines Use Review (MUR) service was costing the NHS £100 million per year in England alone, before the NHS decided to stop commissioning the service from community pharmacies. Game theory has not yet been applied to pharmacy practice, and has never been applied before to the MUR....

We develop a participation/ratification/transfer game-theoretic model representing an international environmental agreement, motivated by the recent COP26 Glasgow agreement attempting to eliminate deforestation activities. We consider the economic (including transfers from the developed nations)...

Do prices and returns in the financial markets exhibit observable patterns, or are they truly ‘random walks’, as predicted by the efficient market hypothesis (EMH)? If there are patterns, the natural question becomes, why do we observe such extreme cycles of bubbles (massive over-valuations)...

We develop an economic analysis in order to examine the effects of consumer, regulatory, and competitive pressure on firm investments in environmentally friendly production. Specifically, we ask: Why do firms vary in their levels of environmental innovation? Under what conditions are such...