Offsetting Uncertainty: Reassurance with Two‐Sided Incomplete Information

Manufacturing Planning under Uncertainty and Incomplete Information

Real world evolves in an uncertain and unpredictable manner. This statement can be fully extended even to the case of a collaborative effort of multiple manufacturers driven by common goals. Throughout the century, the world of manufacturing has changed from a mainly "in-house" effort to a distributed style of production. Final products became more complex. Stiff competition, high level of spec...

Two-stage stochastic linear programs with incomplete information on uncertainty

Uncertainty aversion and equilibrium existence in games with incomplete information

We consider games with incomplete information à la Harsanyi, where the payoff of a player depends on an unknown state of nature as well as on the profile of chosen actions. As opposed to the standard model, players’ preferences over statecontingent utility vectors are represented by arbitrary functionals. The definitions of Nash and Bayes equilibria naturally extend to this generalized setting....

Decision Making Under Uncertainty When Preference Information Is Incomplete

We consider the problem of optimal decision making under uncertainty but assume that the decision maker’s utility function is not completely known. Instead, we consider all the utilities that meet some criteria, such as preferring certain lotteries over certain other lotteries and being risk averse, s-shaped, or prudent. This extends the notion of stochastic dominance. We then give tractable fo...

Foreclosure with Incomplete Information

We investigate the robustness of the new foreclosure doctrine and its associated welfare implications to the introduction of incomplete information. In particular, we let the upstream firm’s marginal cost be private information, unknown to the downstream firms. The previous literature has argued that vertical integration is harmful because it allows an upstream monopolist to limit output to mon...