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Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a …
Persistent link: https://www.econbiz.de/10011327822
We study the effects on the Nash equilibrium of the presence of a structure of social interdependent preferences in a Cournot oligopoly, described in terms of a game in which the network of interactions reflects on the utility functions of firms through a combination of weighted profits of their...
Persistent link: https://www.econbiz.de/10013234697
this end, we generalize the conditions under which the existence and/or uniqueness of Nash equilibrium in classic games is …
Persistent link: https://www.econbiz.de/10013243022
Under some conditions, parameterized games with strategic substitutes exhibit monotone comparative statics of …
Persistent link: https://www.econbiz.de/10012894086
games. These two games are driven by different dynamics when self-generated time series are considered. Both dynamics tend …
Persistent link: https://www.econbiz.de/10013059395
Generalization of the minority game to more than one market is considered. At each time step every agent chooses one of its strategies and acts on the market related to this strategy. If the payoff function allows for strong fluctuation of utility then market occupancies become inhomogeneous...
Persistent link: https://www.econbiz.de/10013059416
We study minority games in efficient regime. By incorporating the utility function and aggregating agents with similar …
Persistent link: https://www.econbiz.de/10013059421
In games with strategic substitutes (GSS), convergence of the best-response dynamic starting from the inf (or sup) of …, global stability is equivalent to dominance solvability, showing that in this class of games, two different foundations for …
Persistent link: https://www.econbiz.de/10012824362
A large body of empirical literature has shown that market impact of financial prices is transient. However, from a theoretical standpoint, the origin of this temporary nature is still unclear. We show that an implied transient impact arises from the Nash equilibrium between a directional trader...
Persistent link: https://www.econbiz.de/10013288860
In the recent economic literature the independence of the central bank is often considered to be one of the most effective guarantees to achieve price stability. A strong theoretical basis of this proposition is that the monetary policy delegation given to an independent central bank is an...
Persistent link: https://www.econbiz.de/10014115691