suboptimal solution – excavation of the smaller pit. Due to information asymmetry realisation of the optimal solution is more … optimisation, BM model, game theory and their valuation as real options is the new direction of further re-search. …

(sunk costs), different access to information (asymmetric information), cooperation or rivalry, possibility of opportunistic … point of view of economic effectiveness based on a bilateral monopoly (BM) model and game theory approach with usage of pit …

of lignite price. The opportunism due to asymmetry of information and possession of dominant strategy of mine … integrated energy producer offering equal access to information for both sides. As it was shown in [4] such solution does not …

Could a credit bureau incite banks to report correct information about their borrowers? We show that banks will choose … the incorrect information sharing in the last period to increase their profits. Interestingly, however, it is shown that … case the Credit Bureau should enforce a sufficiently high penalty in order to incite banks to share information honestly …

This article provides a non-technical survey on recent topics in the theory of contracts. The hold-up problem is …