Szidarovszky and Okuguchi (Games and Economic Behavior, 1997) have provided useful conditions for the existence of a unique purestrategy Nash equilibrium in rent-seeking games of complete information. In this paper, we generalize their results to contests with incomplete information. Two...

We consider a class of homogeneous Cournot oligopolies with concave integrated price flexibility and convex cost functions. We provide new results about the semi-uniqueness and uniqueness of (Cournot) equilibria for the oligopolies that satisfy these conditions. The condition of concave...

This article examines the structure of pure strategy coalition-proof Nash equilibria under weak and strong Pareto dominance in games with strategic complementarities and isotone externalities. The analysis is particularly focused on the following issues: (i) the inclusion relation between the...

Interest rate derivatives are among the most actively traded financial instruments in the main currency areas. With values of positions reacting immediately to the underlying index of daily interbank rates, manipulation has become an increasing challenge for the operational implementation of...

A consistent pair specifies a set of "rational" strategies for both players such that a strategy is rational if and only if it is a best reply to a Bayesian belief that gives positive probability to every rational strategy of the opponent and probability zero otherwise. Although the idea...

We briefly survey several insights about value and revenue maximization in multi-object auctions and apply them to the German (and Austrian) UMTS auction. In particular, we discuss in detail the exposure problem that caused firms in Germany to pay almost Euro 20 billion for nothing.

Concerns for relative performance are integrated into a model of contractual renegotiation in bilateral trade. It is shown that concerns for relative performance do never impede efficient trade. Moreover, conditional on renegotiation to occur, concerns for relative performance tend to mitigate...