This paper explores a few cooperative aspects of investments in uncertain, real options. By hypothesis some production commitments, factors, or quotas are transferable. Cases in point include energy supply, emission of pollutants, and harvest of renewable resources. Of particular interest are...

This paper considers a fairly large class of noncooperative games in which strategies are jointly constrained. When what is called the Ky Fan or Nikaidô-Isoda function is convex-concave, selected Nash equilibria correspond to diagonal saddle points of that function. This feature is exploited to...

This note deals with Cournot type oligopolies in which the market clearing price occasionally may be non-unique. A Stackelberg leading producer is present. Given that setting we explore continuity properties of the followers' reaction and provide sufficient conditions for existence of equilibrium.

We show that social disability insurance may better society-wide welfare even when there is a perfect private market for similar insurance. In essence, the public system complements the private. The latter cover risks when personal characteristics are known, whereas the first mitigates effects...

We exhibit a quite natural, adaptive process generated by price-taking, noncooperative firms, supply the same market. Under rather mild conditions, that process. being driven by marginal profits, converges to a market clearing, Cournot-Nash equilibrium. Namely, it suffices for convergence that...