Search results for "Equilibrium"
showing 10 items of 1021 documents
NASH EQUILIBRIA IN A MODEL OF MULTIPRODUCT PRICE COMPETITION: AN ASSIGNMENT PROBLEM
2003
We study the market interaction of a finite number of single-product firms and a representative buyer, where the buyer consumes bundles of these goods. The buyers' value function determines their willingness to pay for subsets of goods. We show that subgame perfect Nash-equilibrium outcomes are solutions of the linear relaxation of an integer programming assignment problem and that they always exits. The (subgame perfect) Nash-equilibrium price set is characterized by the Pareto frontier of the associated dual problem's projection on the firms' price vectors. We identify the Nash-equilibrium prices for monotonic buyers' value functions and, more importantly, we show that some central soluti…
Bounded Computational Capacity Equilibrium
2010
We study repeated games played by players with bounded computational power, where, in contrast to Abreu and Rubisntein (1988), the memory is costly. We prove a folk theorem: the limit set of equilibrium payoffs in mixed strategies, as the cost of memory goes to 0, includes the set of feasible and individually rational payoffs. This result stands in sharp contrast to Abreu and Rubisntein (1988), who proved that when memory is free, the set of equilibrium payoffs in repeated games played by players with bounded computational power is a strict subset of the set of feasible and individually rational payoffs. Our result emphasizes the role of memory cost and of mixing when players have bounded c…
ASSET MARKETS AND EQUILIBRIUM SELECTION IN PUBLIC GOODS GAMES WITH PROVISION POINTS: AN EXPERIMENTAL STUDY
2001
We report experimental results on the effects that auctioning the right to play a public goods game with a provision point may have on equilibrium selection and individual behavior. Auctioning off such a right among a larger population of players strikingly enhances public good provision. Once public good provision is obtained, the auction price at the preliminary stage increases to its upper limit, dissipating all players’ gains associated with the provision of the public good. Individual deviations from the equilibrium strategy are neither able to force lower market prices nor to affect provision of the public good in subsequent periods. (JEL C72, C92, H41) I. INTRODUCTION Public good pro…
Mean Field Linear Quadratic Games with Set Up Costs
2013
This paper studies linear quadratic games with set up costs monotonic on the number of active players, namely, players whose action is non-null. Such games arise naturally in joint replenishment inventory systems. Building upon a preliminary analysis of the properties of the best response strategies and Nash equilibria for the given game, the main contribution is the study of the same game under large population. We also analyze the influence of an additional disturbance in the spirit of the literature on H∞ control. Numerical illustrations are provided. © 2012 Springer Science+Business Media New York.
Introspection and equilibrium selection in 2 � 2 matrix games
1994
Game theory lacks an explanation of how players' beliefs are formed and why they are in equilibrium. This is the reason why it has failed to make significant advances with the problem of equilibrium selection even for quite siniple games, as 2x2 games with two strict Nash equilibria. Our paper models the introspection process by which the selected equilibrium is achieved in this class of games. Players begin their analysis with imprecise priors, obtained under weak restrictions formulated as Axioms. For a large class of reasoning dynamics we obtain as the solution the risk dominant Nash equilibrium.
Investigation of flashing phenomena in MSF chambers
2007
The MSF process has covered in the last years more than 50% of world production of desalinated water from the sea. Although this process has been used for several decades, the large energy requirements force to search for new and feasible ways to improve the overall thermal efficiency. Few studies have bee carried out in lab-scale, pilot and industrial MSF units, underlining the complexity of flashing phenomena and the importance of operating parameters settings for optimal performance. In the present work a study on fundamental phenomena occurring inside MSF chambers has been carried out, focusing on the dependence of flashing efficiency on operating parameters and the effects of flashing …
Estimation of Nucleation Barriers from Simulations of Crystal Nuclei Surrounded by Fluid in Equilibrium
2016
Nucleation rates for homogeneous nucleation are commonly estimated in terms of an Arrhenius law involving the nucleation barrier, written in terms of a competition of the contribution in surface free energy of the nucleus and the free energy gain proportional to the nucleus volume. For crystal nuclei this “classical nucleation theory” is hampered by the problem that the nucleus in general is non spherical, since the interfacial excess free energy depends on the orientation of the interface relative to the crystal axes. This problem can be avoided by analyzing the equilibrium of a crystal nucleus surrounded by fluid in a small simulation box in thermal equilibrium. Estimating the fluid press…
Determination of cluster binding energies on metal surfaces by statistics
2000
Abstract Two simple formulae to determine binding energies of two-dimensional clusters on surfaces in thermal equilibrium are derived. One requires measurement of monomer and cluster populations and of the surface temperature. The cluster dissociation rate is derived and related to the atom hopping rate, allowing the theory to be extended to adatom populations that are not in chemical equilibrium. The result gives a recipe for determining dissociation energies that requires measurements of only two rates at a single temperature.
Active colloidal suspensions: Clustering and phase behavior
2014
We review recent experimental, numerical, and analytical results on active suspensions of self-propelled colloidal beads moving in (quasi) two dimensions. Active colloids form part of the larger theme of active matter, which is noted for the emergence of collective dynamic phenomena away from thermal equilibrium. Both in experiments and computer simulations, a separation into dense aggregates, i.e., clusters, and a dilute gas phase has been reported even when attractive interactions and an alignment mechanism are absent. Here, we describe three experimental setups, discuss the different propelling mechanisms, and summarize the evidence for phase separation. We then compare experimental obse…
ChemInform Abstract: Relaxation Phenomena of a Triplet Spin Probe in Glassy and Crystalline o-Terphenyl.
2010
The authors used quinoxaline in its photoexcited triplet state as a spin probe in order to measure the spin-lattice relaxation rate in o-terphenyl glass as a function of temperature. They found a power law with an exponent close to 2. Since o-terphenyl can easily be crystallized, they investigated the crystal, too. Below 3.5 K the spin is highly polarized, contrary to the behavior in the glass, where it reaches thermal equilibrium down to the lowest temperatures of their experiment (1.4 K). Around 3.5 K the polarization in the crystal vanishes. Above it appears with opposite sign due to thermal equilibration.