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Bieta, Volker; Broll, Udo; Milde, Hellmuth; Siebel, Wilfried - 2009

The mainstream model of option pricing is based on an exogenously given process of price movements. The implication of this assumption is that price movements are not affected by actions of market participants. However, if we assume that there are indeed impacts on the price movements it no...

Persistent link: https://www.econbiz.de/10010301361

Distributional effects in household models: Separate spheres and income pooling

Browning, Martin; Chiappori, Pierre Andre; Lechene, Valérie - 2006

We derive distributional effects for a non-cooperative alternative to the unitary model of household behaviour. We consider the Nash equilibria of a voluntary contributions to public goods game. Our main result is that, in general, the two partners either choose to contribute to different public...

Persistent link: https://www.econbiz.de/10010293065

The theory of implementation of social choice rules

Serrano, Roberto - 2003

Suppose that the goals of a society can be summarized in a social choice rule, i.e., a mapping from relevant underlying parameters to final outcomes. Typically, the underlying parameters (e.g., individual preferences) are private information to the agents in society. The implementation problem...

Persistent link: https://www.econbiz.de/10010318948

Tacit coordination in contribution-based grouping with two endowment levels

Gunnthorsdottir, Anna; Vragov, Roumen; Shen, Jianfei - 2009

Persistent link: https://www.econbiz.de/10014306483

The New Basel Accord and the Nature of Risk: A Game Theoretic Perspective

Siebe, Wilfried; Milde, Hellmuth; Broll, Udo; Bieta, Volker - 2007

Basel II changes risk management in banks strongly. Internal rating procedures would lead one to expect that banks are changing over to active risk control. But, if risk management is no longer a simple "game against nature", if all agents involved are active players then a shift from a...

Persistent link: https://www.econbiz.de/10010296819

Evolution and Refinement with Endogenous Mistake Probabilities

van Damme, Eric; Weibull, Jörgen W. - 1999

Bergin and Lipman (1996) show that the refinement effect from the random mutations in the adaptive population dynamics in Kandori, Mailath and rob (1993) and Young (1993) is due to restrictions on how these mutation rates vary across population states. We here model mutation rates as...

Persistent link: https://www.econbiz.de/10010334682

Social Networks

de Marti, Joan; Zenou, Yves - 2009

network formation. While the physics/applied mathematics approach is capable of reproducing most observed networks, it does …

Persistent link: https://www.econbiz.de/10010320417

Social networks

de Martí, Joan; Zenou, Yves - 2009

network formation. While the physics/applied mathematics approach is capable of reproducing most observed networks, it does …

Persistent link: https://www.econbiz.de/10010275834

The Formation of Networks with Transfers among Players

Jackson, Matthew O.; Bloch, Francis - 2004

We examine the formation of networks among a set of players whose payoffs depend on the structure of the network. We … network or only on the link itself. A final aspect is whether or not players can pay other players to refrain from forming … related either to accounting for a specific type of externality, or to dealing with the combinatorial nature of network …

Persistent link: https://www.econbiz.de/10011324957

Local Payoff Security and the Existence of Nash Equilibrium in Discontinuous Games

Reny, Philip J. - 1995

Persistent link: https://www.econbiz.de/10010335145