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Jackwerth, Jens Carsten - Volkswirtschaftliche Fakultät, … - 1996

Black-Scholes formula and standard binomial trees can only accommodate one related European option which then effectively … specifies the volatility parameter. Implied binomial trees can accommodate only related European options with the same time …-to-expiration. The generalized binomial trees introduced here can accommodate any kind of related options (European, American, or exotic …

Persistent link: https://www.econbiz.de/10005835695

Controlling polluting firms: Nash and Stackelberg strategies

Halkos, George; Papageorgiou, George - Volkswirtschaftliche Fakultät, … - 2014

In this paper we model the conflict between the group of polluting firms of a country and the social planer of the same country which attempts to control the volume of emissions generated during the production process. Both players of the game have their own control policies which are the rate...

Persistent link: https://www.econbiz.de/10011108611

Dynamic Voluntary Advertising and Vertical Product Quality

Tenryu, Yohei; Kamei, Keita - Volkswirtschaftliche Fakultät, … - 2012

We investigate the dynamic relationship between advertising and product quality under duopolistic competition. By using a simplified vertical product differentiation model with voluntary advertising, we show that the firm with larger market share has a larger advertising share and that there is...

Persistent link: https://www.econbiz.de/10011110328

Dynamic interaction between markets for leasing and selling automobiles

Andrikopoulos, Athanasios; Markellos, Raphael. N - Volkswirtschaftliche Fakultät, … - 2012

We develop a model of dynamic interactions between price variations in leasing and selling markets for automobiles. Our framework assumes a differential game between multiple Bertrand-type competing firms which offer differentiated products to forward-looking agents. Empirical analysis of our...

Persistent link: https://www.econbiz.de/10011110756

Simple taxation schemes on non–renewable resources extraction

Halkos, George; Papageorgiou, George - Volkswirtschaftliche Fakultät, … - 2012

Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless of the inputs’ scarcity. In the last few decades it has become clear that in many cases inputs are depletable quantities and at the same time a lot of constraints are imposed...

Persistent link: https://www.econbiz.de/10011258915

Dynamic modeling of pulse fishing: A game theoretic approach

Halkos, George; Papageorgiou, George - Volkswirtschaftliche Fakultät, … - 2013

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...

Persistent link: https://www.econbiz.de/10011260516

Welfare Analysis of Dynamic Voluntary Advertising in Covered Markets

Tenryu, Yohei; Kamei, Keita - Volkswirtschaftliche Fakultät, … - 2014

In this study, we analyze a dynamic duopoly game in which firms can use advertising and price as competitive tools. The market is assumed to be completely covered in the sense that all consumers purchase a product from one of the two firms. We assume that advertising creates a positive...

Persistent link: https://www.econbiz.de/10011112450

The Effect of Uncertainty on Pollution Control Policy

Athanassoglou, Stergios - Volkswirtschaftliche Fakultät, … - 2009

I study a class of differential games of pollution control with profit functions that are polynomial in the global pollution stock. Given an emissions path satisfying mild regularity conditions, a simple polynomial ambient transfer scheme is exhibited that induces it in Markov-perfect...

Persistent link: https://www.econbiz.de/10005019443

A Case for Affirmative Action in Competition Policy

Villeneuve, Bertrand; Zhang, Vanessa Yanhua - Volkswirtschaftliche Fakultät, … - 2008

We analyze the trade-off faced by competition authorities envisaging a one-shot structural reform in a capitalistic industry. A structure is (1) a sharing of productive capital at some time and (2) a sharing of sites or any other non-reproducible assets. The latter represent opportunities. These...

Persistent link: https://www.econbiz.de/10005789776

Dynamic regulations in non –renewable resources oligopolistic markets

Halkos, George - Volkswirtschaftliche Fakultät, … - 2010

Traditional economic theory, up to the middle of the twentieth century, builds up the production functions regardless the inputs’ scarcity. In the last few decades has been clear that both the inputs are depletable quantities and a lot of constraints are imposed in their usage in order to...

Persistent link: https://www.econbiz.de/10008534534