Showing 1 - 10 of 277
This paper studies repeated games with pure strategies and stochastic discounting under perfect information. We … of this study: In any equilibrium path, the occurrence of any finite number of consecutive repetitions of the period Nash … action profile, must almost surely happen within a finite time window. That is, any equilibrium strategy almost surely …
Persistent link: https://www.econbiz.de/10008833293
complete and incomplete information. We analyze the countries behavior depending especially on aggressive or non … dynamic games in incomplete information. Main result shows that countries behavior depends especially on war costs and on …
Persistent link: https://www.econbiz.de/10011110447
enough patience then it is possible to obtain a cooperative equilibrium of the infinite repeated game. We proof a new folk …
Persistent link: https://www.econbiz.de/10011258583
information about their partners' past actions and play a prisoner's dilemma game. The players have the option to continue their … ability player (L). H can produce better outcomes for its partner as well as for itself than L can. I look for an equilibrium … that is robust against both pair-wise deviation and individual deviation and call such equilibrium a social equilibrium. I …
Persistent link: https://www.econbiz.de/10005619635
and examine existence of Nash equilibrium in both models and show that they differ, so the static model is not a steady … factors the repeated dynamic model has as equilibrium any strategy that is achievable in the one shot game with choice of … congestion pricing. Finally, we examine evidence from St. Louis to determine what equilibrium strategies are actually played in …
Persistent link: https://www.econbiz.de/10008854408
heterogeneous delay between information generation and the players-reaction to it. …
Persistent link: https://www.econbiz.de/10008596431
cases where additionally, some variables may be strategic complements. The main result here is that the equilibrium set in … such models is a non-empty, complete lattice, if, and only if, there is a unique equilibrium. Indeed, for a given parameter … techniques for exhibiting increasing equilibria or computing equilibria that use the largest or smallest equilibrium, or that use …
Persistent link: https://www.econbiz.de/10012824357
Economics, and other fields of social science are often criticized as unscientific for their apparent failures to formulate universal laws governing human societies. Whether economics is truly a science is one of the oldest questions. This paper attempts to create such universal laws, and...
Persistent link: https://www.econbiz.de/10011109601
Why would social science need the help from quantum mechanics? First, there are many unanswerable questions in social science. Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of finance or economics....
Persistent link: https://www.econbiz.de/10011111388
Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of either finance or economics. This paper shows in details that these questions are also not answerable in the existing framework of modern physics. In...
Persistent link: https://www.econbiz.de/10011113488