Results 151 to 160 of about 1,214,649 (366)

A Theory of the Boundaries of Banks With Implications for Financial Integration and Regulation

Financial Management, EarlyView.
ABSTRACT We offer a theory of the “boundary of the firm” that is tailored to banks, recognizing the relevance of deposit financing and interbank lending as a substitute for integration. It is based on a single inefficiency that has been at the core of banking theory: risk‐shifting incentives in the interest of bank shareholders.
Falko Fecht, Roman Inderst, Sebastian Pfeil   +2 more
wiley   +1 more source

A Stochastic Discrete Fractional Cournot Duopoly Game: Modeling, Stability, and Optimal Control

Complexity
A stochastic discrete fractional Cournot duopoly game model with a unique interior Nash equilibrium is developed in this study. Some sufficient criteria of the Lyapunov stability in probability for the proposed model at the interior Nash equilibrium are ...
Jie Ran, Yonghui Zhou
doaj   +1 more source

The pure Nash equilibrium property and the quasi-acyclic condition [PDF]

This paper presents a sufficient condition for the quasi-acyclic condition. A game is quasi-acyclic if from any strategy profile, there exists a finite sequence of strict best replies that ends in a pure strategy Nash equilibrium. The best-reply dynamics
Satoru Takahashi, Tetsuo Yamamori
core  

Strategic Flip‐Flopping in Political Competition

International Economic Review, EarlyView.
ABSTRACT We study candidates' position adjustments in response to information about voters' preferences. Repositioning allows candidates to move closer to the median voter, but it incurs financial and electoral costs. In a subgame‐perfect equilibrium, candidates diverge from the center ex ante if the costs of adjustment are sufficiently large.
Gaëtan Fournier, Alberto Grillo, Yevgeny Tsodikovich   +2 more
wiley   +1 more source

Material Aspirations, Cultural Change, and the Transition Toward Sustained Growth

International Economic Review, EarlyView.
ABSTRACT We highlight the role of economic materialism as a cultural phenomenon of significance in relation to economic transformation and development. By inducing material aspirations, an endogenous cultural change toward more widespread adherence to materialistic values is both a cause and an effect of productivity growth.
Evangelos V. Dioikitopoulos, Dimitrios Varvarigos   +1 more
wiley   +1 more source

Full-Truthful Implementation in Nash Equilibria [PDF]

We consider full-truthful Nash implementation, which requires that truth telling by each agent should be a Nash equilibrium of a direct revelation mechanism, and that the set of Nash equilibrium outcomes of the mechanism should coincide with the f ...
Hideki Mizukami, Takuma Wakayama
core  

Cryptocurrency Bubbles and Costly Mining

International Economic Review, EarlyView.
ABSTRACT This paper develops a model of a cryptocurrency by incorporating mining into the otherwise standard search‐theoretic monetary framework. As usual, multiple equilibria exist. To obtain a sharp prediction on whether a cryptocurrency' s value will last in the future, I propose a notion of equilibrium refinement based on the feature that mining ...
Kohei Iwasaki
wiley   +1 more source

Team-Fictitious Play for Reaching Team-Nash Equilibrium in Multi-team Games [PDF]

Ahmed Said Donmez, Yuksel Arslantas, Muhammed O. Sayin   +2 more
openalex   +1 more source

Network Games With Triadic Interactions

International Economic Review, EarlyView.
ABSTRACT We propose a model for network‐mediated interactions incorporating higher‐order relationships such as triadic interactions. The marginal utility of an individual's action depends explicitly on endogenous actions of multiple units. Conditions ensuring a unique Nash equilibrium are derived using a variational inequality approach. We estimate the
Wei Shi, Chunchao Wang, Pei Yu
wiley   +1 more source

Pareto optimality and Nash equilibrium for building stable systems

, 2015
Abdelkrim Doufene, Daniel Krob
openalex   +2 more sources