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This survey presents in a historical way the main contributions to the hardcore theory of aggregative games and the applications of this model to several fields of economics, other social sciences and engineering.
Persistent link: https://www.econbiz.de/10014496103
We study consumer surplus in a single market when (a) there is a lower bound in the consumption of the outside good and (b) the weights in the social welfare function given to consumers and firms are different. We assume quasilinear utility. When the lower bound constraint on the consumption of...
Persistent link: https://www.econbiz.de/10014496104
We provide a model of dynamic duopoly in which firms face financial constraints and disappear when they are unable to fulfill them. We show that, in some cases, Cournot outputs are no longer supported in equilibrium, because if these outputs were set, a firm may have incentives to ruin the...
Persistent link: https://www.econbiz.de/10011381914