In this paper, we isolate a non-trivial class of games for which there exists a monotone relation between the size of strategy spaces and the number of Nash equilibria. This class is that of two-player games with compact real intervals as strategy spaces and continuous and strictly quasi-concave payoff functions, assumptions met by many economic models. We then show that the sufficient conditio...

M any economic models of the family are based on a generic “person one/person two” household or “parent–child” family, rather than their anatomically correct counterparts: sons and daughters, fathers and mothers, and grandfathers and grandmothers. These economic models can offer powerful insights into family behavior, but also can leave certain patterns unexplained and neglect potentially impor...

Much of human learning in a social context has an interactive nature: What an individual learns is affected by what other individuals are learning at the same time. Games represent a widely accepted paradigm for representing interactive decision-making. We explored the potential value of neural networks for modeling and predicting human interactive learning in repeated games. We found that even...

We present the first measurement study of JoinMarket, a growing marketplace for more anonymous transfers in the Bitcoin ecosystem. Our study reveals that this market is funded with multiple thousand bitcoins and generated a turnover of almost 8 million USD over the course of eight months. Assessing the resilience of the market against a wellfunded attacker, we discover that in a typical scenari...

OBJECTIVE Examine the cost of healthy food habits for welfare-dependent families in Australia. METHOD A seven-day meal plan was developed, based on Australian public health recommendations, for two typical welfare-dependent families: a couple-family (two adults, two children) and a one-parent family (one adult, two children). The cost of the meal plan was calculated using market brand and gen...

We study forward-looking economic models assuming that agents take one step ahead expectations looking back k time periods. We show that the dynamics of the economy with such an expectation function are characterized by the coexistence of perfect foresight and nonperfect foresight cycles. The stability of all these periodic solutions under bounded rationality is related to the stability of the ...

We consider an economic model that features : 1. a continuum of agents 2. an aggregate state of the world over which agents have an infinitesimal influence. We first propose a review, based on work by Jara-Moroni (2007), of the connections between the eductive viewpoint that puts emphasis on Strongly Rational Expectations equilibrium and the standard game-theoretical rationalizability concepts....

Focussing on the prime example of CO2 emissions, we discuss several important theoretical and econometric problems that arise when studying environmental Kuznets curves (EKCs). The dominant theoretical approach is given by integrated assessment modelling, which consists of economic models that are combined with environmental impactmodels. We critically evaluate the aggregation, model dynamics a...

The fall of the Iron Curtain in 1989 sparked a wave of economic and political liberalization all over the world. Main beneficiaries of this development have been countries in Central and Eastern Europe and Asia, whose societies and markets have embarked on a reform path to a democratic society and market economy. Economies in Latin America and Africa have also been forced to reconsider their ec...