in the restructured environment of electricity market, firstly the generating companies and the customers are looking for maximizing their profit and secondly independent system operator is looking for the stability of the power network and maximizing social welfare. in this paper, a one way auction in the electricity market for the generator companies is considered in both perfect and imperfec...

We study equilibrium determination in an environment where two types of agents have different information sets: Fully informed observe histories all exogenous and endogenous variables. Less only a strict subset the full set need to solve dynamic signal extraction problem gather about variables they do not directly observe. Both know structure model form expectations rationally. In this environm...

We introduce an extension of Strategy Logic for the imperfect-information setting, called SL ii and study its model-checking problem. As this logic naturally captures multi-player games with imperfect information, problem is undecidable; but we a syntactical class “hierarchical instances” which, intuitively, as one goes down syntactic tree formula, strategy quantifications are concerned finer o...

How is firm creation affected by imperfect information? Our model of rational inattention generates inefficient entry and labor misallocation, because startups make error-prone decisions. Learning decisions prospective entrepreneurs alter the effects lump-sum transfers to startups: total employment gain amplified due an unintended increase in entry, most entrants hire fewer workers, misallocati...