Demand Functions in Dynamic Games

Oil Prices & Dynamic Games under Stochastic Demand

Oil prices remained relatively low but volatile in the 2015-17 period, largely due to declining and uncertain demand from China. This follows a prolonged decline from around $110 per barrel in June 2014 to below $30 in January 2016, due in large part to increased supply of shale oil in the US, which was spurred by the development of fracking technology. Most dynamic Cournot models focus on supp...

Habit Formation and Dynamic Demand Functions

Dynamic system of strategic games

Maybe an event can't be modeled completely through one game but there is more chance with several games. With emphasis on players' rationality, we present new properties of strategic games, which result in production of other games. Here, a new attitude to modeling will be presented in game theory as dynamic system of strategic games and its some applications such as analysis of the clash betwe...

Dynamic Panel Data Analysis Of European Tourism Demand In Malaysia

Convexity and the Shapley value in Bertrand oligopoly TU-games with Shubik's demand functions

The Bertrand Oligopoly situation with Shubik’s demand functions is modelled as a cooperative TU game. For that purpose two optimization problems are solved to arrive at the description of the worth of any coalition in the so-called Bertrand Oligopoly Game. Under certain circumstances, this Bertrand oligopoly game has clear affinities with the well-known notion in statistics called variance with...