Results 41 to 50 of about 2,716 (210)
On the equivalence between subgame perfection and sequentiality [PDF]
, 2005 We identify the maximal set of finite extensive forms for which the sets of subgame perfect and sequential equilibrium strategies coincide for any possible assignment of the payoff function.
Litan, Cristian M. +1 more
core
A Multiperiod Equilibrium Pricing Model
Journal of Applied Mathematics, 2014 We propose an equilibrium pricing model in a dynamic multiperiod stochastic framework with uncertain income. There are one tradable risky asset (stock/commodity), one nontradable underlying (temperature), and also a contingent claim (weather derivative ...
Minsuk Kwak +2 more
doaj +1 more source
A Test of the Coase Conjecture Using Prices of Electronic Books
Southern Economic Journal, EarlyView.ABSTRACT The Coase Conjecture predicts that a durable‐goods monopolist without commitment will rapidly cut price toward marginal cost. We test this prediction in the electronic‐book market using release‐day prices. To proxy for marginal cost, we use competitive prices of public‐domain electronic books on the same platforms.
Tim Groseclose, Alex Tabarrok
wiley +1 more source
Theoretical Economics, 2017 Harris, Reny, and Robson (1995) added a public randomization device to dynamic games with almost perfect information to ensure existence of subgame perfect equilibria (SPE). We show that when Nature's moves are atomless in the original game, public randomization does not enlarge the set of SPE payoffs: any SPE obtained using public randomization can be
Barelli, Paulo, Duggan, John
openaire +3 more sources
Optimal Portfolio Selection of Mean-Variance Utility with Stochastic Interest Rate
Journal of Function Spaces, 2020 In order to tackle the problem of how investors in financial markets allocate wealth to stochastic interest rate governed by a nested stochastic differential equations (SDEs), this paper employs the Nash equilibrium theory of the subgame perfect ...
Shuang Li +4 more
doaj +1 more source
Economic Harmony—A Rational Theory of Fairness and Cooperation in Strategic Interactions
Games, 2022 Experimental studies show that the Nash equilibrium and its refinements are poor predictors of behavior in non-cooperative strategic games. Cooperation models, such as ERC and inequality aversion, yield superior predictions compared to the standard game ...
Ramzi Suleiman
doaj +1 more source
Adding Realism to Theories of Taxpayer Compliance
Southern Economic Journal, EarlyView.ABSTRACT Explaining why people pay taxes has not been a central focus in the many important contributions of Jim Cox. Even so, I argue here that his work has greatly affected the way that we think about taxpayer compliance, by adding both directly and indirectly much needed realism to the theories and the applications of compliance. These contributions
James Alm
wiley +1 more source
Is the rent too high? Land ownership and monopoly power
Real Estate Economics, EarlyView.Abstract Pricing power in real estate markets can reduce housing supply and redevelopment relative to the social optimum. We show how pricing power interacts with popular redevelopment subsidies and zoning regulations. Using building‐level rental income data from NYC, we find that increased concentration is correlated with increased rents.
C. Luke Watson, Oren Ziv
wiley +1 more source
Resource Competition in Blockchain Networks Under Cloud and Device Enabled Participation
IEEE Access, 2022 Blockchain technology is a promising resource management architecture due to its ability of building trust in a decentralized transaction. Block mining participants, i.e. miners, are incentivized with reward for successfully mining blocks. Unfortunately,
Yuxiang Liang +3 more
doaj +1 more source
A ninny, an idiot and an economic theorist
Economica, EarlyView.Abstract Anton Chekhov's story ‘The ninny’ meets the question: ‘What is the meaning of economic theory?’
Ariel Rubinstein
wiley +1 more source