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Estimation and measurement of consumption externalities are still challenging problems in applied research. In this paper, externalities as Nash equilibrium are estimated using consumer demand theory and a large data set. We estimate Nash equilibrium consumption externalities in petrol budget...
Persistent link: https://www.econbiz.de/10011731359
We investigate a linear state dfferential game describing an asymmetric Cournot duopoly with capacity accumulation à la Ramsey and a negative environmental externality (pollution), in which one of the firms has adopted corporate social responsibility (CSR) in its statute, and therefore includes...
Persistent link: https://www.econbiz.de/10011729939
I investigate two versions of a differential Cournot oligopoly game with nonrenewable resource exploitation, in which each firm may either exploit its own private pool or exploit a common pool jointly with the rivals. Firms use a deterministic technology to invest in exploration activities. In...
Persistent link: https://www.econbiz.de/10011730329
We characterise the subgame perfect equilibrium of a differential market game with hyperbolic inverse demand where firms are quantity-setters and accumulate capacity over time à la Ramsey. The related Hamilton-Jacobi-Bellman are solved in closed form both on infinite and on finite horizon...
Persistent link: https://www.econbiz.de/10011731041
Does monitoring past conduct facilitate intertemporal cooperation? We designed an experiment characterized by strategic uncertainty and multiple equilibria where coordinating on the efficient outcome is a challenge. Participants, interacting anonymously in a group, could pay a cost either to...
Persistent link: https://www.econbiz.de/10011713674
We study a class of games featuring payoff functions being parabolic cylinders where best reply functions are orthogonal and therefore the pure-strategy non-cooperative solution is attained as a Nash equilibrium in dominant strategies. We prove that the resulting threshold of the discount factor...
Persistent link: https://www.econbiz.de/10011713766
A technique to determine closed-loop Nash equilibria of n-player differential games is developed when their dynamic state-control system is composed of decoupled ODEs. In particular, the theory of Lie point symmetries is exploited to achieve first integrals of such systems.
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