This paper presents a model based on the Nash bargaining for fishing quotas and wages between fishing communities and vessels, focusing on two cases: (a) the fishing communities are not environmentally conscious and ignore the external damages caused by the fishing industry emissions, and (b)...

Urban congestion causes travel times to exhibit considerable variability, which leads to coordination problems when people have to meet. We analyze a game for the timing of a meeting between two players who must each complete a trip of random duration to reach the meeting, which does not begin...

We study an infinitely repeated game where two players with equal discount factors play a simultaneous-move stage game. Player one monitors the stage- game actions of player two imperfectly, while player two monitors the pure stage- game actions of player one perfectly. Player one’s type is...

We introduce a new value for games with transferable utility, called grand dividends value. In the payoff calculation, the grand dividends value takes into account the worths of all subcoalitions of a player set. The concept of grand dividends, representing the surplus (which can also be...

Using cross sectional data from all 47 Counties in Kenya, the presence of contract breaches between the producers and chain intermediary node is investigated. Most farmers do not engage in contracting and for those who do, many of these contracts are found to be informal. In addition, most of...

In this paper, we consider a model that suggests that the theory of exchange with asymmetric information seems suitable to provide a possible explanation model of occurrence and duration of civil wars. We show that although civil conflicts are not Pareto optimal ex post they may be Pareto...

Power sharing is modeled as a duel over some prize. Each of two players may either share the prize in some ratio or fire at the other player—either in sequence or simultaneously—and eliminate it with a specified probability. If one player eliminates the other without being eliminated itself,...

The purpose of this note is to introduce how to evaluate strategic choices of the firm using economic principles. The procedure is based on simple cost benefit considerations such as building on the economic principles of incentive compatibility constraints based in Game Theory.

A monopolist is treated as a nexus of contracts with team production. It has one owner-manager who is the employer of two employees. A team production problem is present if the employer is a “managerial lemon.” If the team production problem is solved, the employer is a “managerial...

In this paper, we develop a bargaining model where parties (or their intermediaries) make errors when reporting their bid. We characterize the Nash equilibria of the game and show that there is a unique equilibrium where trade takes place. This trade equilibrium is shown to converge to the Nash...