Decision analysis has traditionally been applied to choices under uncertainty involving a single decision maker. Game theory has been applied to solving games of strategic interaction between two or more players. Building upon recent work of van Binsbergen and Marx (2007. Exploring relations...

We offer a shipper and a carrier the choice among three contracts in which to frame their relationship. Both can also take recourse in the transport spot market. Demand and price on the spot market are dependent exogenous stochastic processes. We model the outcome of this endogenous choice of...

The paper develops an optimal control model to analyse various management options for infectious diseases that occur in metapopulations, under both Nash and cooperative behaviour. As pathogens are renewable resources with negative value, the problem may be non-convex. Since the disease can be...

Bayesian rational prior equilibrium requires agent to make rational statistical predictions and decisions, starting with first order non informative prior and keeps updating with statistical decision theoretic and game theoretic reasoning until a convergence of conjectures is achieved. The main...

In this paper we define the canonical mixed extension of a decision form game. We motivate the necessity to introduce this concept and we show several examples about the new concept. In particular we focus our study upon the mixed equilibria of a finite decision form game. Many devel- opments...

Software market is considered as a new object for the mathematical economics. A statistical study of the server operating systems market is provided, static and dynamic models of for-profit and non-for-profit software developers mixed duopoly are built (taking into account market growth,...

In this paper we introduce the reactivity in decision-form games. The concept of reactivity allows us to give a natural concept of rationalizable solution for decision-form games: the solubility by elimination of sub- reactive strategies. This concept of solubility is less demanding than the...

The present study is, in particular, an attempt to test the relationship between tax level and political stability by using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For the purpose, we used the Vector Autoregression (VAR)...

We examine a market in which consumers are forced to rely on noisy price signals to select between homogeneous products. The noise originates either from firms' price obfuscation or consumers' bounded information processing capabilities. Standard models and empirical experiments of markets with...

The application of Nash bargaining solution to profit division in negotiation between opencast lignite mine and power plant has been discussed. Different proposals of status quo point usage and ways of its determination for profit sharing both in strategic and tactical/operational negotiation...