理论经济学
We explore conclusions a person draws from observing society when he allows for the possibility that individuals' outcomes are affected by group-level discrimination. Injecting a single non-classical assumption, that the agent is…
Arrow's `impossibility' theorem asserts that there are no satisfactory methods of aggregating individual preferences into collective preferences in many complex situations. This result has ramifications in economics, politics, i.e., the…
This paper analyzes the role of money in asset markets characterized by search frictions. We develop a dynamic framework that brings together a model for illiquid financial assets `a la Duffie, Garleanu, and Pedersen, and a search-theoretic…
In this paper, we extend and improve the production chain model introduced by Kikuchi et al. (2018). Utilizing the theory of monotone concave operators, we prove the existence, uniqueness, and global stability of equilibrium price, hence…
Ingroup favoritism, the tendency to favor ingroup over outgroup, is often explained as a product of intergroup conflict, or correlations between group tags and behavior. Such accounts assume that group membership is meaningful, whereas…
We theoretically study the effect of a third person enforcement on a one-shot prisoner's dilemma game played by two persons, with whom the third person plays repeated prisoner's dilemma games. We find that the possibility of the third…
Ethereum has emerged as a dynamic platform for exchanging cryptocurrency tokens. While token crowdsales cannot simultaneously guarantee buyers both certainty of valuation and certainty of participation, we show that if each token buyer…
In a recent paper, Naz and Chaudry provided two solutions for the model of Lucas-Uzawa, via the Partial Hamiltonian Approach. The first one of these solutions coincides exactly with that determined by Chilarescu. For the second one, they…
The main aim of this paper is to prove the existence of a new production function with variable elasticity of factor substitution. This production function is a more general form which includes the Cobb-Douglas production function and the…
The main aim of this paper is to give some clarifications to the recent paper published in Computational and Applied Mathematics by Naz and Chaudhry.
McKelvey and Palfrey (1995)'s monotone structural Quantal Response Equilibrium theory may be misspecified for the study of monotone behavior.
We present a proof of Arrow's theorem from social choice theory that uses a fixpoint argument. Specifically, we use Banach's result on the existence of a fixpoint of a contractive map defined on a complete metric space. Conceptually, our…
Motivated by the problem of market power in electricity markets, we introduced in previous works a mechanism for simplified markets of two agents with linear cost. In standard procurement auctions, the market power resulting from the…
This paper brings together divergent approaches to time inconsistency from macroeconomic policy and behavioural economics. Behavioural discount functions from behavioural microeconomics are embedded into a game-theoretic analysis of…
In this note, we consider the pricing problem of a profit-maximizing monopolist who faces naive consumers with convex self-control preferences.
In this paper we develop a general framework to analyze stochastic dynamic problems with unbounded utility functions and correlated and unbounded shocks. We obtain new results of the existence and uniqueness of solutions to the Bellman…
We study a model of vendors competing to sell a homogeneous product to customers spread evenly along a linear city. This model is based on Hotelling's celebrated paper in 1929. Our aim in this paper is to present a necessary and sufficient…
This paper introduces an evolutionary dynamics based on imitate the better realization (IBR) rule. Under this rule, agents in a population game imitate the strategy of a randomly chosen opponent whenever the opponent`s realized payoff is…
This article shows a new focus of mathematic analysis for the Solow-Swan economic growth model, using the generalized conformal derivative Katugampola (KGCD). For this, under the same Solow-Swan model assumptions, the Inada conditions are…
We introduce a general Hamiltonian framework that appears to be a natural setting for the derivation of various production functions in economic growth theory, starting with the celebrated Cobb-Douglas function. Employing our method, we…