Strategic behaviour, equilibria and economic optimality in settings with competing interests

In settings with competing interests interacting agents need to take into consideration many details and parameters of the environment. Examples include strategies and payoffs, rules of the game or market and uncertainty. We present several contributions in this area. We examine firms in markets...

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Main Author: Polak, Ido David
Other Authors: Nicolas Privault
Format: Theses and Dissertations
Language:English
Published: 2017
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Online Access:http://hdl.handle.net/10356/70664
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-706642023-02-28T23:38:39Z Strategic behaviour, equilibria and economic optimality in settings with competing interests Polak, Ido David Nicolas Privault School of Physical and Mathematical Sciences Ning Chen DRNTU::Science::Mathematics::Applied mathematics::Game theory DRNTU::Science::Mathematics::Applied mathematics::Optimization DRNTU::Science::Mathematics::Probability theory In settings with competing interests interacting agents need to take into consideration many details and parameters of the environment. Examples include strategies and payoffs, rules of the game or market and uncertainty. We present several contributions in this area. We examine firms in markets with stochastic, limited demand and their deterministic counterparts, both in sequential as well as simultaneous form. We characterise their equilibria and show that the stochastic setup can be seen as a smoothing of the deterministic version. In particular, in the simultaneous case, we exhibit the existence of an intermediate regime of the demand, in which there is a range of equilibria in the deterministic framework, but a single equilibrium in the stochastic setting. We illustrate our findings by plotting graphs numerically. Also, we present new results from exchange economies for the incentive ratio, a concept intended to measure the extent to which an equilibrium outcome can be manipulated. Unlike in Fisher markets, the benefits from manipulation in linear, Leontief and Cobb-Douglas exchange economies can be arbitrarily large. For Cobb–Douglas markets we show that we can break the upper bound from Fisher models even in markets with only three goods, but we also demonstrate that the incentive ratio is bounded by the number of commodities. ​Doctor of Philosophy (SPMS) 2017-05-08T08:06:23Z 2017-05-08T08:06:23Z 2017 Thesis Polak, I. D. (2017). Strategic behaviour, equilibria and economic optimality in settings with competing interests. Doctoral thesis, Nanyang Technological University, Singapore. http://hdl.handle.net/10356/70664 10.32657/10356/70664 en 134 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Science::Mathematics::Applied mathematics::Game theory
DRNTU::Science::Mathematics::Applied mathematics::Optimization
DRNTU::Science::Mathematics::Probability theory
spellingShingle DRNTU::Science::Mathematics::Applied mathematics::Game theory
DRNTU::Science::Mathematics::Applied mathematics::Optimization
DRNTU::Science::Mathematics::Probability theory
Polak, Ido David
Strategic behaviour, equilibria and economic optimality in settings with competing interests
description In settings with competing interests interacting agents need to take into consideration many details and parameters of the environment. Examples include strategies and payoffs, rules of the game or market and uncertainty. We present several contributions in this area. We examine firms in markets with stochastic, limited demand and their deterministic counterparts, both in sequential as well as simultaneous form. We characterise their equilibria and show that the stochastic setup can be seen as a smoothing of the deterministic version. In particular, in the simultaneous case, we exhibit the existence of an intermediate regime of the demand, in which there is a range of equilibria in the deterministic framework, but a single equilibrium in the stochastic setting. We illustrate our findings by plotting graphs numerically. Also, we present new results from exchange economies for the incentive ratio, a concept intended to measure the extent to which an equilibrium outcome can be manipulated. Unlike in Fisher markets, the benefits from manipulation in linear, Leontief and Cobb-Douglas exchange economies can be arbitrarily large. For Cobb–Douglas markets we show that we can break the upper bound from Fisher models even in markets with only three goods, but we also demonstrate that the incentive ratio is bounded by the number of commodities.
author2 Nicolas Privault
author_facet Nicolas Privault
Polak, Ido David
format Theses and Dissertations
author Polak, Ido David
author_sort Polak, Ido David
title Strategic behaviour, equilibria and economic optimality in settings with competing interests
title_short Strategic behaviour, equilibria and economic optimality in settings with competing interests
title_full Strategic behaviour, equilibria and economic optimality in settings with competing interests
title_fullStr Strategic behaviour, equilibria and economic optimality in settings with competing interests
title_full_unstemmed Strategic behaviour, equilibria and economic optimality in settings with competing interests
title_sort strategic behaviour, equilibria and economic optimality in settings with competing interests
publishDate 2017
url http://hdl.handle.net/10356/70664
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