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This chapter studies the theory of value of games with infinitely many players.Games with infinitely many players are …-handed influence. The interactions are modeled as cooperative games with a continuum of players. In general, the continuum consists of … framework for mathematical analysis, and approximates the results for large finite games well. Also, it enables a unified view …
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Least-Unmatched Price Auctions have become a popular format of TV and radio shows. Increasingly, they are also applied in internet trading. In these auctions the lowest single (unique) bid wins. We analyze the game-theoretic solution of least unmatched price auctions when prize, bidding cost and...
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This chapter presents developments in the theory of stochastic games that have taken place in recent years. It … complements the contribution by Mertens. Major emphasis is put on stochastic games with finite state and action sets. In the zero … all discount factors close to zero. Extensions to non-zero-sum games are dealt with here. In particular, the proof of …
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Stochastic games model repeated play with symmetric information. We analyze their value in the zero-sum case, and …
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Individual players in a simultaneous equation binary choice model act differently in different environments in ways that are frequently not captured by observables and a simple additive random error. This paper proposes a random coefficient specification to capture this type of heterogeneity in...
Persistent link: https://www.econbiz.de/10009725714