Is it rational to reduce criminal activities if punishments are increased? While intuition might suggest so, game theory concludes differently. From the game theoretical perspective, inspectors anticipate the effect of increased punishments on criminal behavior and reduce their inspection...

In this paper, I develop a hybrid model that contains elements of both agent based simulations (ABS) as well as analytic Cournot models, to study the effects of firm characteristics, market characteristics, and innovation on market concentration, as measured by a Herfindahl-Hirschman Index...

Modern environmental issues imply that decision-makers have the capacity to take into account possibly conflicting information from distinct domains, such as science and economics. As the development of technology increases the temporal and spatial scopes of risks, decision-makers can no longer...

In the research addressing the prisoner's dilemma game, the effectiveness and accountableness of the method allowing for the emergence of cooperation is generally discussed. The most well-known solutions for this question are memory based iteration, the tag used to distinguish between defector...