Search results for "Mathematical economics"
showing 10 items of 240 documents
REPEATED GAMES WITH PROBABILISTIC HORIZON
2005
Repeated games with probabilistic horizon are defined as those games where players have a common probability structure over the length of the game's repetition, T. In particular, for each t, they assign a probability pt to the event that "the game ends in period t". In this framework we analyze Generalized Prisoners' Dilemma games in both finite stage and differentiable stage games. Our construction shows that it is possible to reach cooperative equilibria under some conditions on the distribution of the discrete random variable T even if the expected length of the game is finite. More precisely, we completely characterize the existence of sub-game perfect cooperative equilibria in finite s…
Stackelberg-Cournot and Cournot equilibria in a mixed markets exchange economy
2012
In this note, we compare two strategic general equilibrium concepts: the Stackelberg-Cournot equilibrium and the Cournot equilibrium. We thus consider a market exchange economy including atoms and a continuum of traders, who behave strategically. We show that, when the preferences of the small traders are represented by Cobb-Douglas utility functions and the atoms have the same utility functions and endowments, the Stackelberg-Cournot and the Cournot equilibrium equilibria coincide if and only if the followers’ best responses functions have a zero slope at the SCE.
Population Games with Vector Payoff and Approachability
2016
This paper studies population games with vector payoffs. It provides a new perspective on approachability based on mean-field game theory. The model involves a Hamilton-Jacobi-Bellman equation which describes the best-response of every player given the population distribution and an advection equation, capturing the macroscopic evolution of average payoffs if every player plays its best response.
The community structure of the global corporate network.
2013
We investigate the community structure of the global ownership network of transnational corporations. We find a pronounced organization in communities that cannot be explained by randomness. Despite the global character of this network, communities reflect first of all the geographical location of firms, while the industrial sector plays only a marginal role. We also analyze the network in which the nodes are the communities and the links are obtained by aggregating the links among firms belonging to pairs of communities. We analyze the network centrality of the top 50 communities and we provide the first quantitative assessment of the financial sector role in connecting the global economy.
Imbalance Effects in the Lucas Model: An Analytical Exploration
2004
In this note, we use a technique analogous to Xie's method (1994) to solve analytically the Lucas model with externality in a specific parametric case. In particular, we characterize the shape of imbalance effects in this model. Our results are entirely consistent with the findings of the related computational literature. Moreover, our analytical investigation tends to show that these findings are robust to the presence of the Lucas externality as long as a unique equilibrium path exist.
Men's doubles professional tennis on hard courts: Game structure and point ending characteristics
2019
Despite the great tradition and importance of the doubles game in professional tennis, no literature has analysed to date the performance of professional players. Therefore, the information on the characteristics of the game, or the tactics related to how the points are won in doubles play is scarce. The objective of this study has been to describe the basic characteristics of the structure of the doubles game, and to establish how the points finish in doubles professional tennis played on hard courts. Thirty-four ATP doubles matches played in 2018 were analysed, which included a total of 40 professional players. As per the game structure, the results showed that, in comparison to the singl…
Farsighted R&D networks
2014
We analyze the formation of bilateral R&D collaborations in an oligopoly when each firm benefits from the research done by other firms it is connected to. In contrast to myopic stability, farsighted stability leads to R&D networks consisting of two minimally connected components, with the largest one comprising three-quarters of firms.
Partial spatial equilibria with fuzzy constraints
1981
It is implicitly accepted by spatial economic analysis that the economic behaviour of agents located in given spaces (market areas, regions, etc.) is precise, that is to say, their behaviour is such that a possible action (consumption, production) is, or is not, preferable to another. In otherwords, economic agents are assumed to make accurate economic calculations and optimise the objective functions under strict constraints of resource limitation. These objective functions have clearly defined arguments and well-controlled parameters.
Alcohol consumption in Spain and its economic cost: A mathematical modeling approach
2010
In this paper, a mathematical model for alcohol consumption in Spanish population is proposed. Its parameters are estimated by fitting the model to real data from Spanish Ministry of Health. Predictions about the future behavior of the alcohol consumption in Spain are presented using this model. Results are applied to estimate the economic costs (sanitary and non-sanitary) assumed by Spanish society that are derived from this consumption.
An Overview of Collapsibility
2004
Collapsing over variables is a necessary procedure in much empirical research. Consequences are yet not always properly evaluated. In this paper, different definitions of collapsibility (simple, strict, strong, etc.) and corresponding necessary and sufficient conditions are reviewed and evaluated. We point out the relevance and limitations of the main contributions within a unifying interpretative framework. We deem such work to be useful since the debate on the topic has often developed in terms that are neither focused nor clear.