Game theory is a branch of social sciences that formalizes decision-making in situations where two or more individuals or groups interact, possibly having conflicting interests. In Ortmann & Walraevens (2022) we have reconstructed Smith’s ways of thinking about the social world by analyzing...

Garrett Hardin's “The Tragedy of the Commons” (Hardin, 1968) is widely influential but fundamentally incorrect. Hardin characterizes the commons problem as arising from the exercise of free will in a world with limited carrying capacity. Hardin's solutions to this problem emphasize coercive...

The paper aims to show how the formal revolution in economics has influenced the developments of Rational Choice and Game Theory in Political Science. Our focus will be on American political scientist William H. Riker (1920-1993). We want to show how Riker used game theory and adapted it to...

This article proposes a method for considering the bargaining agenda as an endogenous phenomenon in gradual bargaining games, understood as being path-dependent processes. Some short, medium and long-term results for bargaining are presented, as well as a possible application for the model.

The objective of this work is to investigate market power issues in bid- based hydrothermal scheduling. Initially, market power is simulated with a single stage Nash-Cournot equilibrium model. Market power assessment for multiple stages is then carried through a stochastic dynamic programming...

We study firms' incentives to acquire private information in a setting where subsequent competition leads to firms' later signaling their private information to rivals. Due to signaling, equilibrium prices are distorted, and so while firms benefit from obtaining more precise private information,...

We consider a monopolist who sells identical objects of common but unknown value in a herding-prone environment. Buyers make their purchasing decisions sequentially, and rely on a private signal as well as We consider a monopolist who sells identical objects of common but previous buyers actions...

This paper studies patenting decisions by firms in relation to the negotiation and signing of the Helsinki and Oslo protocol as part of the Convention on Long-Range Transboundary Air Pollution. We use a uniquely constructed patent data set on SO2 abatement technologies filed in 15 signatory and...

We study how lines form endogenously in front of banks when depositors differ in their liquidity needs. Our model has two stages. In the first one, depositors choose the level of costly effort they want to exert to arrive early at the bank which determines the order of decisions. In the second...

We propose a dual selves model to integrate affective responses and belief-dependent emotions into game theory. We apply our model to team production and model a worker as being composed of a rational self, who chooses effort, and an emotional self, who expresses esteem. Similar to psychological...