Search results for "Complete information"
showing 4 items of 24 documents
Approachability in Population Games
2014
This paper reframes approachability theory within the context of population games. Thus, whilst one player aims at driving her average payoff to a predefined set, her opponent is not malevolent but rather extracted randomly from a population of individuals with given distribution on actions. First, convergence conditions are revisited based on the common prior on the population distribution, and we define the notion of \emph{1st-moment approachability}. Second, we develop a model of two coupled partial differential equations (PDEs) in the spirit of mean-field game theory: one describing the best-response of every player given the population distribution (this is a \emph{Hamilton-Jacobi-Bell…
A Behavioral Approach for Logistics System Analysis and Design: A Reverse Logistics Case
2002
Traditional logistic system analysis quite often assumes a single decisionmaker (the planner) operating in a state of complete information and full decision power. He pursues the objective of designing an efficient logistic network by solving a sequence of operational problems mainly in the form of optimization models. More realistically, one should consider that the decision power is actually distributed within the logistics system among different actors (agents or holons) having different (conflictual or cooperative) goals, following different behavioural rules and generating interdipendencies. The shift from a SAS (single-agent system) approach to a MAS (multi-agent system) one induces s…
Heterogeneous network games: Conflicting preferences
2013
Proceeding at: 2nd Annual UECE Lisbon Meeting: Game Theory and Applications, took place 2010, November, 4-6, in Lisbon (Portugal). The event Web site http://pascal.iseg.utl.pt/~uece/lisbonmeetings2010/ In many economic situations, a player pursues coordination or anti-coordination with her neighbors on a network, but she also has intrinsic preferences among the available options. We here introduce a model which allows to analyze this issue by means of a simple framework in which players endowed with an idiosyncratic identity interact on a social network through strategic complements or substitutes. We classify the possible types of Nash equilibria under complete information, finding two thr…
A Reduced-Form Model for Warrant Valuation
2011
This paper studies warrant valuation using a reduced-form model. Analogous to the credit risk literature, structural models require complete information about the asset value process and the firm’s liabilities. In contrast, reduced-form models require only information about the firm’s stock price process. We introduce a reduced-form model where the warrant holder is a price taker, and we relate our model to structural models appearing in the literature.