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Theoretical and experimental studies of noncooperative games increasingly recognize Nash equilibrium as a limiting outcome of players repeated interaction. This note, while sharing that view, illustrates and advocates combined use of convex optimization and differential equations, the purpose...
Persistent link: https://www.econbiz.de/10011408978
We consider a game played by a state sponsor of terrorism, a terrorist group, and the target of terrorist attacks. The sponsoring state wishes to see as much damage inflicted on the target of attack as possible, but wishes to avoid retaliation. To do so, his relationship with the terrorist group...
Persistent link: https://www.econbiz.de/10011379528
Both in game theory and in general equilibrium theory there exists a number of universally stable adjustment processes … the processes are adjustment rules by which an auctioneer can clear all markets. Examples are the processes studied by …
Persistent link: https://www.econbiz.de/10014160968
We study strategic interactions between firms with heterogeneous beliefs about future climate impacts. To that end, we propose a Cournot-type equilibrium model where firms choose mitigation efforts and production quantities such as to maximize the expected profits under their subjective beliefs....
Persistent link: https://www.econbiz.de/10013240456
We examine how adaptation to climate change affects the incentives to ratify international environmental agreements (IEAs). In particular, we study the effects of two aspects on the incentives to join a coalition. First, we analyze cross-country differences in adaptation costs. Second, we...
Persistent link: https://www.econbiz.de/10014145164
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This paper discusses the strategic role of mismatching, where players voluntarily form inefficient teams or forego the formation of efficient teams, respectively. Strategic mismatching can be rational when players realize a competitive advantage (e.g. harming other competitors). In addition, the...
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