This article reports not only theoretical solution of bargaining problem as used by game theoreticians but also an adequate calculus. By adequate calculus we understand an algorithm that can lead us to the result within reasonable timetable using either the computing power of nowadays computers...

Current analysis addresses an apparently critical issue of wealth circulation in the society. In the form of three persons game, we put the welfare-related burden on taxpayers. The Negotiator No.1 stands up for citizens’ legal and moral right to social services. The Negotiator No.2 proceeds...

Current analysis addresses an apparently critical issue of wealth circulation in the society. In the form of three persons game, we put the welfare-related burden on taxpayers. The Negotiator No.1 stands up for citizens’ legal and moral right to social services. The Negotiator No.2 proceeds...

Current analysis addresses an apparently critical issue of wealth circulation in the society. In the form of three persons game, we put the welfare-related burden on taxpayers. The Negotiator No.1 stands up for citizens’ legal and moral right to social services. The Negotiator No.2 proceeds...

Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? The adoption by Tunisia of structural reforms of its economy in a context of gradual opening since 1986, had allowed the instauration in January 1993 of the convertibility of its current...

The recent debates over discriminatory versus uniform-price auctions in the UK and elsewhere have revealed an incomplete understanding of the limitations of some popular auction models when applied to real-world electricity markets. This has led certain regulatory authorities to prefer...

In a Bayesian game players play an unknown game. Before the game starts some players may receive a signal regarding the specific game actually played. Typically, information structures that determine different signals, induce different equilibrium payoffs.In zero-sum games the equilibrium payoff...

This paper characterizes interim efficient mechanisms for public good production and cost allocation in a two-type environment with risk neutral, quasi-linear preferences and fixed size projects, where the distribution of the private good, as well as the public goods decision, affects social...

We study the issue of project choice when a risk-averse agent must choose whether to invest in two projects of the same type (focus) or of different types (diversification). Projects of the same type are subject to common type-specific shocks. Hence focusing is more risky within each period, but...

We show that, in repeated common interest games without discounting, strong `perturbation implies efficiency' results require that the perturbations must include strategies which are `draconian' in the sense that they are prepared to punish to the maximum extent possible. Moreover, there is a...