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A Characterization Of Strategic Complementarities
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Book Synopsis A Characterization of Strategic Complementarities by : Federico Echenique
Download or read book A Characterization of Strategic Complementarities written by Federico Echenique and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I characterize games for which there is an order on strategies such that the game has strategic complementarities. I prove that, with some qualifications, games with a unique equilibrium have complementarities if and only if Cournot best-response dynamics has no cycles; and that all games with multiple equilibria have complementarities. As applications of my results, I show: 1. That generic 2X2 games either have no pure-strategy equilibria, or have complementarities. 2. That generic two-player finite ordinal potential games have complementarities.
Book Synopsis Strategic Complementarities and Endogenous Heterogeneity in Oligopolistic Markets by : Malgorzata Knauff
Download or read book Strategic Complementarities and Endogenous Heterogeneity in Oligopolistic Markets written by Malgorzata Knauff and published by Presses univ. de Louvain. This book was released on 2006 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis consists of five chapters. The first of them contains introduction. Chapter 2 considers a broad class of two player symmetric games, which display a fundamental non-concavity when actions of both players are about to be the same. This implies that no symmetric equilibrium is possible. We distinguish different properties of the payoff functions, like strategic substitutes, complements and quasi-concavity, which are not necessarily imposed globally on the joint action space. A number of applications from industrial organization and applied microeconomics literature are provided. In Chapter 3 we generalize to the extent possible the known results for the case of games with one-dimensional action sets to the general case of games with action spaces that are complete lattices. We find that in the general case the scope for asymmetric equilibrium behavior is definitely broader than in the one-dimensional case, though still quite limited. Moreover, we investigate under which sufficient conditions asymmetric pure strategy Nash equilibria are always Pareto dominated by symmetric pure strategy Nash equilibria. In Chapter 4 we deal with the effects of market transparency on prices in the Bertrand duopoly model. We consider two types of strategic interaction between firms in an industry - strategic complementarities and substitutabilities. In the first case, the results are close to conventional wisdom, especially, when in the same time products are substitutes. Namely, equilibrium prices and profits are always decreasing in transparency level, while the consumer’s surplus is increasing. Considering price competition with strategic substitutes, an ambiguity in the direction of change of prices appears. This leads to ambiguity concerning equilibrium profits and surplus changes caused by increasing transparency. In Chapter 5 we provide general conditions for Cournot oligopoly with product differentiation to have monotonic reaction correspondences. We give a proof for the conditions stated by Vives (1999). Moreover we elaborate more general requirements. They allow for identifying increasing best responses even in case inverse demand is submodular, and similarly, decreasing best responses in case of supermodular inverse demand. Examples illustrating the scope of applicability of these results are provided.
Download or read book Oligopoly Pricing written by Xavier Vives and published by MIT Press (MA). This book was released on 1999 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applies a modern game-theoretic approach to develop a theory of oligopoly pricing. The text relates classic contributions to the field of modern game theory and discusses basic game-theoretic tools and equilibrium, paying particular attention to developments in the theory of supermodular games.
Book Synopsis Rationalised panics. The consequences of strategic uncertainty during financial crisis by : Tijmen Roderik Danie͏̈ls
Download or read book Rationalised panics. The consequences of strategic uncertainty during financial crisis written by Tijmen Roderik Danie͏̈ls and published by Rozenberg Publishers. This book was released on 2009 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Network Goods, Information and Identification: Complementarities and Strategic Behavior by : Natalia Lazzati
Download or read book Network Goods, Information and Identification: Complementarities and Strategic Behavior written by Natalia Lazzati and published by . This book was released on 2011 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The notion of complementarity is fundamental to economics, as reflected in the large and growing number of studies that invoke alternate conceptions of this idea. Though complementarity has been studied for many years, its connection with theory of supermodularity is far more recent. Taking advantage of these techniques, the first three chapters of this dissertation study aspects of interest in network markets; endogenous information acquisition; and some insights into the comparison of player's equilibrium strategies. The last chapter applies this methodology to econometric identification. Chapter one provides a thorough analysis of oligopolistic markets with positive demand-side network externalities and perfect compatibility. With a general complementarity structure on the model primitives allowing for products with low or high stand-alone values, a nontrivial fulfilled-expectations equilibrium exists. We formalize the concept of industry viability, investigate its determinants, and show that viability is always enhanced by having more firms in the market and/or by technological progress. The second chapter studies covert information acquisition in common value Bayesian games of strategic complementarities. Using the supermodular stochastic order to arrange the structures of information increasingly in terms of preferences, we provide novel, easily interpretable conditions under which the value of information is globally convex, and study the implications in terms of the equilibrium configuration. Our analysis also enlightens the effect of information on players' behavior. Chapter three proposes a simple approach to compare players' equilibrium choices in asymmetric games with strategic complementarities. We offer three applications of our idea to industrial organization and behavioral economics. The last chapter studies (nonparametric) partial identification of treatment response with social interactions. It imposes economically driven monotone conditions to the primitives of the model, i.e., the structural equations, and shows that they imply shape restrictions on the distribution of potential outcomes by means of monotone comparative statics. We propose precise conditions that validate counterfactual predictions in models with multiple equilibria. Under three sets of assumptions, we identify sharp distributional bounds (in terms of stochastic dominance) on the potential outcomes given observable data. We illustrate our results by studying the effect of police per-capita on crime rates in New York state.
Book Synopsis Supermodularity and Complementarity by : Donald M. Topkis
Download or read book Supermodularity and Complementarity written by Donald M. Topkis and published by Princeton University Press. This book was released on 2011-02-11 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economics literature is replete with examples of monotone comparative statics; that is, scenarios where optimal decisions or equilibria in a parameterized collection of models vary monotonically with the parameter. Most of these examples are manifestations of complementarity, with a common explicit or implicit theoretical basis in properties of a super-modular function on a lattice. Supermodular functions yield a characterization for complementarity and extend the notion of complementarity to a general setting that is a natural mathematical context for studying complementarity and monotone comparative statics. Concepts and results related to supermodularity and monotone comparative statics constitute a new and important formal step in the long line of economics literature on complementarity. This monograph links complementarity to powerful concepts and results involving supermodular functions on lattices and focuses on analyses and issues related to monotone comparative statics. Don Topkis, who is known for his seminal contributions to this area, here presents a self-contained and up-to-date view of this field, including many new results, to scholars interested in economic theory and its applications as well as to those in related disciplines. The emphasis is on methodology. The book systematically develops a comprehensive, integrated theory pertaining to supermodularity, complementarity, and monotone comparative statics. It then applies that theory in the analysis of many diverse economic models formulated as decision problems, noncooperative games, and cooperative games.
Book Synopsis Complementarity of Variable Renewable Energy Sources by : Jakub Jurasz
Download or read book Complementarity of Variable Renewable Energy Sources written by Jakub Jurasz and published by Academic Press. This book was released on 2022-05-23 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complementarity of Variable Renewable Energy Sources consolidates current developments on the subject, addressing all technical advances, presenting new mapping results, and bringing new insights for the continuation of research and implementation on this fascinating topic. By answering questions such as How can complementarity be used in the operation of large interconnected systems?, What is the real applicability potential of energetic complementarity?, and How will it impact energy generation systems?, this title is useful for all researchers, academic and students investigating the topic of renewable energy complementarity in systems. In just over a decade, the subject of 'energy complementarity' has experienced a growing presence and understanding by researchers and managers of energy resources looking to enhance energy systems. Early research proposed methods to quantify complementarity, the effects of complementarity on performance of hybrid systems, and how to identify and map complementarity between solar energy, wind energy and hydroelectric energy systems. Includes chapter maps to visualize system performance under different complementarity indexes Addresses complementarity in the operation of large and small to medium-sized hybrid systems Provides methods for determining complementarity between various energy sources
Book Synopsis Toward a Comparative Institutional Analysis by : Masahiko Aoki
Download or read book Toward a Comparative Institutional Analysis written by Masahiko Aoki and published by MIT Press. This book was released on 2023-12-26 with total page 481 pages. Available in PDF, EPUB and Kindle. Book excerpt: A conceptual and analytical framework for understanding economic institutions and institutional change. Markets are one of the most salient institutions produced by humans, and economists have traditionally analyzed the workings of the market mechanism. Recently, however, economists and others have begun to appreciate the many institution-related events and phenomena that have a significant impact on economic performance. Examples include the demise of the communist states, the emergence of Silicon Valley and e-commerce, the European currency unification, and the East Asian financial crises. In this book Masahiko Aoki uses modern game theory to develop a conceptual and analytical framework for understanding issues related to economic institutions. The wide-ranging discussion considers how institutions evolve, why their overall arrangements are robust and diverse across economies, and why they do or do not change in response to environmental factors such as technological progress, global market integration, and demographic change.
Book Synopsis Money Illusion and Strategic Complementarity as Causes of Monetary Non-Neutrality by : Jean-Robert Tyran
Download or read book Money Illusion and Strategic Complementarity as Causes of Monetary Non-Neutrality written by Jean-Robert Tyran and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: In principle, money illusion could explain the inertial adjustment of prices after changes of monetary policy. Hence, money illusion could provide an explanation of monetary non-neutrality. However, this explanation has been thoroughly discredited in modern economics. As a consequence, economists have ever since the 1970s searched for alternative explanations for nominal rigidity. These explanations are all based on the assumption of fully rational economic agents, holding rational expectations. This book argues that money illusion has been prematurely dismissed as an explanation of monetary non-neutrality. Methods of experimental economics are used to investigate the real aggregate effects of money illusion. It is shown that money illusion in fact causes (short-run) real income effects if strategic complementarity prevails. Strategic complementarity is an important characteristic of naturally occurring macroeconomies and is a recurrent theme in most models explaining nominal rigidity.
Book Synopsis Comparative Institutional Analysis by : Masahiko Aoki
Download or read book Comparative Institutional Analysis written by Masahiko Aoki and published by Edward Elgar Publishing. This book was released on 2013-11-29 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume collects 22 articles by Masahiko Aoki, selected from writings published over the course of his 45-year academic career. These fascinating essays cover a range of issues, including mechanism design, comparative governance, corporate governan
Book Synopsis Game Theoretic Analysis by : Leon A Petrosyan
Download or read book Game Theoretic Analysis written by Leon A Petrosyan and published by World Scientific. This book was released on 2019-10-14 with total page 621 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of recent novel contributions in game theory from a group of prominent authors in the field. It covers Non-cooperative Games, Equilibrium Analysis, Cooperative Games and Axiomatic Values in static and dynamic contexts.Part 1: Non-cooperative Games and Equilibrium AnalysisIn game theory, a non-cooperative game is a game with competition between individual players and in which only self-enforcing (e.g. through credible threats) alliances (or competition between groups of players, called 'coalitions') are possible due to the absence of external means to enforce cooperative behavior (e.g. contract law), as opposed to cooperative games. In fact, non-cooperative games are the foundation for the development of cooperative games by acting as the status quo. Non-cooperative games are generally analysed through the framework of equilibrium, which tries to predict players' individual strategies and payoffs. Indeed, equilibrium analysis is the centre of non-cooperative games. This volume on non-cooperative games and equilibrium analysis contains a variety of non-cooperative games and non-cooperative game equilibria from prominent authors in the field.Part 2: Cooperative Games and Axiomatic ValuesIt is well known that non-cooperative behaviours, in general, would not lead to a Pareto optimal outcome. Highly undesirable outcomes (like the prisoner's dilemma) and even devastating results (like the tragedy of the commons) could appear when the involved parties only care about their individual interests in a non-cooperative situation. Cooperative games offer the possibility of obtaining socially optimal and group efficient solutions to decision problems involving strategic actions. In addition, axiomatic values serve as guidance for establishing cooperative solutions. This volume on cooperative games and axiomatic values presents a collection of cooperative games and axiomatic values from prominent authors in the field.
Book Synopsis Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity by : Carolina Manzano
Download or read book Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity written by Carolina Manzano and published by . This book was released on 2010 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Southern Economic Journal written by and published by . This book was released on 2004 with total page 960 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Mixed Methods Reader by : Vicki L. Plano Clark
Download or read book The Mixed Methods Reader written by Vicki L. Plano Clark and published by SAGE. This book was released on 2008 with total page 1281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a collection of key methodological writings in mixed methods research along with a collection of exemplar studies. This cross-disciplinary volume helps define the "literature" of mixed methods research. Selections are draw from the international literature that has appeared across diverse research disciplines over the past 30 years. Key features: writings in the field of mixed methods: methodological selections address research design types and purposes, data collection, data analysis, reporting, and future directions; offers exemplar research studies: examples include published studies from diverse disciplines, including sociology, education, evaluation, health sciences, nursing, and family science; Provides visual diagrams to illustrate exemplar research studies: these diagrams help readers understand how the method's components are implemented and how they can develop diagrams for their own studies.
Book Synopsis The New Macroeconomics by : Huw David Dixon
Download or read book The New Macroeconomics written by Huw David Dixon and published by Cambridge University Press. This book was released on 1995-10-19 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: Brings together leading researchers from the USA and Europe to examine the literature on the new macroeconomics.
Book Synopsis EBOOK: Strategy: Analysis and Practice by : MCGEE, JOHN/THO
Download or read book EBOOK: Strategy: Analysis and Practice written by MCGEE, JOHN/THO and published by McGraw Hill. This book was released on 2010-08-16 with total page 738 pages. Available in PDF, EPUB and Kindle. Book excerpt: EBOOK: Strategy: Analysis and Practice
Book Synopsis Differential Games in Marketing by : Steffen Jørgensen
Download or read book Differential Games in Marketing written by Steffen Jørgensen and published by Springer Science & Business Media. This book was released on 2003-11-30 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Game theory has proven useful to represent and conceptualize problems of conflict and cooperation in a formal way, and to predict the outcome of such situations. Differential games are dynamic games that are particularly designed to study systems where observations and decisions are made in real time. The book conveys to the reader the state of the art of research in marketing applications of differential game theory. This research started about 25 years ago and the literature has now reached an extent and a maturity that makes it natural to take stock. The book deals with differential games in advertising, pricing, and marketing channels, as well as with marketing-production and pricing-advertising interfaces. It provides also a tutorial on main concepts in differential games.
