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This paper introduces fixed tree games with repeated players (FRP games) which are a generalization of standard fixed tree games. This generalization consists in allowing players to be located in more than one vertex. As a consequence, these players can choose among several ways of connection...
Persistent link: https://www.econbiz.de/10014071274
This study considers a simple newsvendor situation that consists of n retailers, all selling the same item with common purchasing costs and common selling prices. Groups of retailers might increase their expected joint profit by inventory centralization, which means that they make a joint order...
Persistent link: https://www.econbiz.de/10012713467
This paper introduces the family of Weighted Aumann-Shapley values for piecewise linear fuzzy games. The regular Aumann-Shapley value is not well-defined in case some differentiability condition is not satisfied. As an alternative, we introduce a family of allocation rules inspired by the...
Persistent link: https://www.econbiz.de/10012938623
In this survey we review some of the main contributions to the cooperative approach of newsvendor situations. We show how newsvendor situations with several retailers can be modeled as a transferable-utility cooperative game and we concentrate on one solution concept: the core. First we examine...
Persistent link: https://www.econbiz.de/10013008230
In this paper we model the formation of directed communication networks. A directed communication network is represented by a directed graph. Firstly, we study an allocation rule satisfying two appealing properties, component efficiency and directed fairness. We show that such an allocation rule...
Persistent link: https://www.econbiz.de/10014145132
We consider a market for lemons in which the seller is a monopolistic price setter and the buyer receives a private noisy signal of the product's quality. We model this as a game and analyze perfect Bayesian equilibrium prices, trading probabilities and gains of trade. In particular, we vary the...
Persistent link: https://www.econbiz.de/10010369404
This paper presents an infinite-horizon version of intergenerational utilitarianism that is both satisfactorily complete and consistent. By studying discounted utilitarianism as the discount factor tends to one, we obtain a welfare criterion - limit-discounted utilitarianism - that combines...
Persistent link: https://www.econbiz.de/10011381244
This paper provides axiomatic descriptions of social welfare relations, defined on infinite streams of utility, that are consistent with the utilitarian criterion on subsets where maximizing aggregate utility has a clear interpretation: the streams, or their differences, are summable. Besides...
Persistent link: https://www.econbiz.de/10011381248
This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show that LDU meets the standard assumptions of efficiency,...
Persistent link: https://www.econbiz.de/10012010018
We define a concept of epistemic robustness in the context of an epistemic model of a finite normal game where a player type corresponds to a belief over the profiles of opponent strategies and types. A Cartesian product X of pure strategy subsets is epistemically robust if there is a Cartesian...
Persistent link: https://www.econbiz.de/10011694183