in recent decades energy sector has been most important division in sociopolitical national and international dialogs. policy making in energy sector in iran is a strategic subject because of independency of our national revenue to oil & gas export in one way and huge oil & gas reservoirs in iran (137 billion barrel in oil and 28.3 million cubic meter in gas) in other hand. this paper investiga...

Note: This is a only a draft version, so there could be flaws. If you find any errors, please do send email to [email protected]. A more thorough version would be available soon in this space. The Nash bargaining problem represents one of the earliest and most influential results in cooperative game theory. Given two rational and intelligent players and a set of feasible allocations from a...

a r t i c l e i n f o JEL classification: D44 L71 Keywords: Oil and gas lease auctions Asymmetric information National oil company This paper analyzes bidding behavior in oil and gas tract auctions in Brazil, where the main winner has been Petrobras, a national company. We test predictions from the theory of common-value, first-price, sealed-bid auctions with asymmetric information. The tests i...

The focus for the Centre is research into individual and strategic decision‐making using a combination of theoretical and experimental methods. On the theory side, members of the Centre investigate individual choice under uncertainty, cooperative and non‐cooperative game theory, as well as theories of psychology, bounded rationality and evolutionary game theory. Members of the Centre have appli...

Abstract: In this paper, we discuss the economic reasons for overexploitation that led to the Bohai Gulf oil spill, using game theory. Based on the Bohai Gulf incident, we present the causes of ocean international petroleum cooperation, reveal the connection between the interests of Chinese local oil companies and that of a foreign oil company, analyze both sides of the benefit equilibrium betw...

The \social dilemma" is a problem inherent in forming and maintaining cooperation among sel sh individuals, and is of fundamental importance in the biological and social sciences. From the viewpoint of traditional game theory, the existence of the social dilemma necessarily implies degeneration into sel sh behavior as the numbers of members in a community increases, unless there exists some ext...

In this paper we use a non cooperative equilibrium selection approach as a notion of stability in link formation games. Specifically, we follow the global games approach first introduced by Carlsson and van Damme (1993), to study the robustness of the set of Nash equilibria for a class of link formation games in strategic form with supermodular payoff functions. Interestingly, the equilibrium s...

The “social dilemma” is a problem inherent in forming and maintaining cooperation among selfish individuals, and is of fundamental importance in the biological and social sciences. From the viewpoint of traditional game theory, the existence of the social dilemma necessarily implies degeneration into selfish behavior as the numbers of members in a community increases, unless there exists some e...