This note derives the Golden Rule of capital accumulation in a Chakrabortytype economy, i.e. a two-period OLG economy where longevity is endogenous. It is shown that the capital p...
Abstract We study the structure of unstable local effectivity functions defined for n players and p alternatives. A stability index based on the notion of cycle is introduced. In t...
In this paper, we consider a decision-maker who tries to learn the distribution of outcomes from previously observed cases. For each observed database of cases the decision-maker ...
A new axiomatic characterization of the two-step Shapley value (Kamijo (2007)) is presented based in a solidarity principle for the members of a union: when the game changes due t...
We consider four different game-theoretic approaches to describe the formation of social networks under mutual consent and costly communication. First, we consider Jackson-Wolins...