For our experiment on corruption we designed a coordination game to model the influence of risk attitudes, beliefs, and information on behavioral choices and determined the equilibria. We observed that the participants' risk attitudes failed to explain their choices between corrupt and...

In recent years, there has been an increase in research on conventions motivated by the game-theoretic contributions of the philosopher David Lewis. Prior to this surge in interest, discussions of convention in economics had been tied to the analysis of John Maynard Keynes's writings. These...

Opportunism, either governmental or private, may become a powerful deterrent against public-private project financing, especially considering the scale of the investment in infrastructure. The parties can secure themselves against counterparty opportunism by assigning the investor an exit (put)...

One of the key assumptions of neoclassical economics is the existence of the rational individual, who always tries to maximize his or her utility. The paper shows possibilities of experimental evaluation of this hypothesis with respect to the various groups of people who undertake the...

We apply linear and non-linear programming to find the solutions for Nash equilibriums and Nash arbitration in game theory problems. Linear programming was shown as a viable method for solving mixed strategy zero-sum games. We review this methodology and suggest a class of zero-sum game theory...

In order to surpass the stringent regulations, the industry sector in India is largely resorting to contract labourers, who are governed by an Act. A primary survey carried out in an industrially developed state in India, reveals that several stipulations made in the Act are not followed. The...

This paper examines the problem of achieving global cooperation to reduce greenhouse gas emissions. Contributions to this problem are reviewed from noncooperative game theory, cooperative game theory, and implementation theory. We examine the solutions to games where players have a continuous...

We propose some variants of a multi-modal of joint action, preference and knowledge that support reasoning about epistemic games in strategic form. The first part of the paper deals with games with complete information. We first provide syntactic proofs of some well-known theorems in the area of...

Development status of dairy industry in Sichuan Province, China is analyzed, indicating that how to ensure the high-quality and ecological production of peasant households has become an important issue for the safety and healthy of the masses and the development of dairy industry. Game model is...

We develop a contingent claims model of a firm in financial distress with a formal account for renegotiations under the Chapter 11 bankruptcy procedure. Shareholders and two classes of creditors (senior and junior) alternatively propose a reorganization plan subject to a vote. The bankruptcy...