In this paper, we study the relationship between reconciliations in the Colombian electricity market and the bid prices by firms on the spot market. In this work,we propose a model of behavior of the firm to elaborate theoretical predictions about the relationship between the reconciliations and...

This article calculates the Bayes-Nash equilibria of a parametric family of auction models which includes, among others, the classic models. In an analysis of two power generation firms with the same production capacity and risk neutrality, the models in this class verify a revenue equivalence...

In this paper, we study the relationship between reconciliations in the Colombian electricity market and the bid prices by firms on the spot market. In this work,we propose a model of behavior of the firm to elaborate theoretical predictions about the relationship between the reconciliations and...

This article applies game theory in the company under study, in order to optimize the competitive strategy with respect to its main competitor in the bicycle and motorcycle market. Once the problem is defined, the zero-sum matrix between the competitors is established, then the model is...

This paper incorporates the strategic interactions between tax payers and fiscal authorities to the standard theory of fiscal evasion. The existence and (local) unicity of Nash equilibrium are demonstrated by the players' best responses. Through a numerical analysis, it is concluded that...

In competitive environments, the design and election of strategies demand considered three potential sources of uncertainty: risks derived from self-actions, risks emerged from states of nature and risks derived from competitors ́ decisions. The Real Options Theory analyses the first two risks,...

In competitive environments, the design and election of strategies demand considered three potential sources of uncertainty: risks derived from self-actions, risks emerged from states of nature and risks derived from competitor' decisions. The Real Options Theory analyses the first two risks,...

This article applies game theory in the company under study, in order to optimize the competitive strategy with respect to its main competitor in the bicycle and motorcycle market. Once the problem is defined, the zero-sum matrix between the competitors is established, then the model is...