Strategic bilateral exchange of a bad
| Autor: | Georges Zaccour, Baris Vardar |
|---|---|
| Přispěvatelé: | Groupe d’études et de recherche en analyse des décisions (GERAD), Université du Québec à Montréal = University of Québec in Montréal (UQAM)-HEC Montréal (HEC Montréal)-McGill University = Université McGill [Montréal, Canada]-École Polytechnique de Montréal (EPM) |
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
TheoryofComputation_MISCELLANEOUS
Mathematical optimization 021103 operations research Applied Mathematics 0211 other engineering and technologies 02 engineering and technology Management Science and Operations Research 01 natural sciences Industrial and Manufacturing Engineering 010104 statistics & probability Pareto optimal Economics Single agent [INFO]Computer Science [cs] 0101 mathematics Commodity (Marxism) Software |
| Zdroj: | Operations Research Letters Operations Research Letters, Elsevier, 2019, 47, pp.235-240. ⟨10.1016/j.orl.2019.03.013⟩ |
| ISSN: | 0167-6377 |
| DOI: | 10.1016/j.orl.2019.03.013⟩ |
| Popis: | A private bad is a commodity that causes its owner disutility. We study the bilateral exchange of a bad for a good that provides utility. Considering the exchange price to be fixed, we determine the first-best choice of a single agent and study its properties, then investigate the equilibrium strategies of the two-player game. We characterize the normalized equilibrium a la Rosen (1965), and also provide a Pareto optimal allocation scheme that is beneficial and fair for the two players. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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