In the context of the Nash Bargaining Problem an arbitrator is supposed to choose a solution point on the basis of 'fairness' requirements. By introducing time-related costs to the parties' utility functions, a new class of arbitration changes the rules of the negotiations, and particularly the...

The Nash Bargaining is reformulated by introducing time-related costs into the von Neumann-Morgenstern utility functions of the parties. A set of mathematical requirements on the solution is satisfied uniquely by a function called the Extended Raiffa Solution. The properties of this function are...

The optimal inflation rate is analyzed in a simple model of intertemporal general equilibrium where agents have an operative bequest motive and taxation is distortionary. Monetary balances are used as a productive input, and agents have perfect foresight. The optimal value of the permanent...

We consider economies with preferences drawn from a very general class of strongly convex preferences, closely related to the class of convex (but intransitive and incomplete) preferences for which Mas-Colell proved the existence of competitive equilibria [13]. We prove a strong core limit...

Product differentiated duopoly with a potential entrant facing a single period fixed cost entry barriers is modeled as a noncooperative game. In addition to characterizing the equilibrium solutions and relating them to entry costs and product differentiation, a comparison of price and quantity...