We present a simple dynamic equilibrium model for an online exchange where both buyers and sellers arrive according to a exogenously defined stochastic process. The structure of t...
The advent of electronic commerce enables retailers to set prices via automated algorithms. This paper employs the method of experimental economics to examine human behavior in en...
This paper addresses a business scenario based on socalled tradable micro-services which is intended to explain the dynamics of a market to which actors contribute both as consume...
Abstract. This paper extends the N-person IPD game into a more interesting game in economics, namely, the oligopoly game. Due to its market share dynamics, the oligopoly game is mo...
Baran and Sweezy’s 1966 study of U.S. capitalism [2] argued that its fundamental problem is not “diminishing returns” but “the tendency of surplus to rise” – from whic...