This article shows that social norms are better explained as correlating devices for a correlated equilibrium of the underlying stage game, rather than Nash equilibria. Whereas the epistemological requirements for rational agents playing Nash equilibria are very stringent and usually...

In this paper we claim that the disadvantage in the pollution control is not primarily the accumulated stock of pollutants, which is an accomplished fact, but the use of the available inputs in production in conjunction with the available equipment are the sources of pollutants accumulation. In...

A game-theoretic model of territorial environmental production under Cournot competition is studied. The process is modeled as cooperative differential game. The stable distribution mechanism of the common cooperative benefit among players is proposed. We proved that the cooperative total stock...

We develop a strategic model of network interdiction in a non-cooperative game of flow. An adversary, endowed with a bounded quantity of bads, chooses a flow specifying a plan for carrying bads through a network from a base to a target. Simultaneously, an agency chooses a blockage specifying a...

In almost common value auctions, even a very small private payoff advantage is usually supposed to have an explosive effect on the outcomes in a second- price sealed-bid auction. According to Bikhchandani (1988) and Klemperer (1997) the large set of equilibria obtained for common value auction...

Explicit formulas for the asymptotic value and the asymptotic minmax of finite discounted absorbing games are provided. New simple proofs for the existence of the limits when the players are more and more patient (i.e. when the discount factor goes zero) are given. Similar characterizations for...

In this paper, we give new sufficient conditions for the existence of a solution of theg-maximum equality. As a consequence, we prove a new fixed point theorem. We also prove a new theorem of existence of Nash equilibrium.

Convergence to the Nash equilibrium in a Cournot oligopoly is a question that recurrently arises as a subject of controversy in economics. The development of evolutionary game theory has provided an equilibrium concept more directly connected with adjustment dynamics, and the evolutionary...

Based on the notion of equilibrium of a coalition P relatively to a coalition K, of Berge, Zhukovskii has introduced Berge equilibrium as an alternative solution to Nash equilibrium for non cooperative games in normal form. The essential advantage of this equilibrium is that it does not require...

This article analyses the possibility of firms learning collusive solutions in a Cournot quantity game. Starting from the results of Vallée and Yildizoglu (2009) and of Alos-Ferrer (2004), we study the role of random experimenting, social learning (imitation), and (updated) memory in helping...