Results 151 to 160 of about 1,223 (219)

Non-cooperative Support for the Asymmetric Nash Bargaining solution

open access: yes
Our work contributes to the game-theoretic analysis of bargaining by providing additional non-cooperative support to the well-known Nash bargaining solution.
Herings, P. Jean-Jacques   +2 more
core  

Robust Mean–Variance Portfolio Optimization: Mean–Variance–Variance Criterion Versus Mean–Variance–Standard Deviation Criterion

open access: yesMathematical Finance, EarlyView.
ABSTRACT We study a dynamic portfolio optimization problem under the mean–variance–variance (M‐V‐V) criterion proposed by Maccheroni et al. It is an analogue of the Arrow–Pratt approximation to the well‐known smooth ambiguity model. Under the standard Black–Scholes framework, we derive fully explicit equilibrium investment strategies in which a DM's ...
David Landriault, Bin Li, Yuanyuan Zhang
wiley   +1 more source

Biased News Media and the Swing Voter's Decision in Repeated Games

open access: yesThe Manchester School, EarlyView.
ABSTRACT We consider a monopolistic, biased news media platform that attempts to influence the decision of swing voters with cheap talk when voting is costly and abstaining is an option. First, we demonstrate that, while no fully communicative equilibrium exists in a stage game, a partially truth‐revealing mixed‐strategy equilibrium exists.
Jooyong Jun, Jeong‐Yoo Kim
wiley   +1 more source

Endogenous Institution Formation for Public Good Provision

open access: yesThe Manchester School, EarlyView.
ABSTRACT We revisit an existing framework of endogenous institution formation for public good provision, incorporating heterogeneous players to address the question, “Who joins an institution that sanctions only its members to provide a public good?” We analyze two models with different sources of heterogeneity.
Daehong Min, Doojin Ryu
wiley   +1 more source

Mutual Outsourcing in a Vertically Related Market With Strategic Environmental Corporate Social Responsibility

open access: yesThe Manchester School, EarlyView.
ABSTRACT This study considers mutual outsourcing firms in a vertically related market and examines their strategic adoption of environmental corporate social responsibility (ECSR) activities. We demonstrate that ECSR adoption reduces mutual outsourcing firms' profits, resulting in a prisoner's dilemma situation, but enhances welfare regardless of ...
Lili Xu, Xinying Fan, Sang‐Ho Lee
wiley   +1 more source

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