Theoretically, producer behavior models postulate that firms have had different objectives ranging from profit maximization to setting aspirational levels. The assumption of the objective was shaped based on rationality principles, which has lost relevance with coming principle behavioral economics in recent time. present paper intends throw some light changes been made over years and attempts ...

the hypothesis which more educated women experience less fertility has motivated many researches. current study is also carried out in the same direction of those investigations. the theoretical model is designed based on microeconomics of fertility that show since the substitution effect of rising female schooling surpasses the income effect, the presence of negative relation between the level...

Multimedia applications are expected to play a more prevalent role in integrated service networks. One method of efficiently transmitting such traffic uses the ABR service class. However, rate control for this class becomes more difficult due to the bursty and somewhat unpredictable behavior of multimedia traffic. This paper presents a microeconomic-based ABR rate control technique that models ...

We develop a framework based on microeconomic theory from which the ideal gas like market models can be addressed. A kinetic exchange model based on that framework is proposed and its distributional features have been studied by considering its moments. Next, we derive the moments of the CC model (Eur. Phys. J. B 17 (2000) 167) as well. Some precise solutions are obtained which conform with the...

Solution We know that a strictly dominated action is played with zero probability in any Nash equilibrium. There are two pure strategy equilibria (M,L), (B,R). There is no equilibrium in which only one of the players completely mix. The only remaining possibility is both of them completely mixing. Let p be player 1’s probability of playing M and q be player 2’s probability of playing L. As we k...

Solution The unique pure strategy subgame perfect equilibrium is (Rr, r). 2. (30pts.) An entrepreneur has a project that she presents to a capitalist. She has her own money that she could invest in the project and is looking for additional funding from the capitalist. The project is either good (denoted g) (with probability p) or it is bad (denoted b) (with probability 1− p) and only the entrep...