Potential games and supermodular games are attractive games, especially because under certain conditions they possess pure Nash equilibria. Subclasses of games with a potential are considered which are also strategically equivalent to supermodular games. The focus is on two-person zero-sum games...

Conditional on the considered equilibrium, the probability of a bank run in the demand-deposit contract models of Bryant (1980) and of Diamond and Dybvig (1983) is either one or zero. In contrast, we establish the existence of an interval - being a strict subset of the unit-interval - of...

This paper offers a novel positive theory of counterfeit money, in which the counterfeiters compete against both law enforcement and innocent individuals forced to verify their currency. Law enforcement efforts against counterfeiting can crowd out verification, and thus have perverse...

Conditional on the considered equilibrium, the probability of a bank run in the demand-deposit contract models of Bryant (1980) and of Diamond and Dybvig (1983) is either one or zero. In contrast, we establish the existence of an interval - being a strict subset of the unit-interval - of...

Both men and women wish to have a family and a rewarding career. In this paper, we show that the under-representation of women in high-powered professions may reflect a coordination failure in young women’s marriage-timing decisions. Since investing in a highpowered career imposes time strain,...