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A Survey on Discrete Bidding Games with Asymmetric Information
P. 89–114.
Repeated bidding games were introduced by De Meyer and Saley (2002) to analyze the evolution of the price system at finance markets with asymmetric information. In the paper of De Meyer and Saley arbitrary bids are allowed. It is more realistic to assume that players may assign only discrete bids proportional to a minimal currency unit. This paper represents a survey of author's results on discrete bidding games with asymmetric information.
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Issue 6. , St. Petersburg: Graduate School of Management, St. Petersburg University, 2013.
Zhou Z., Yin Y., Zhou M. et al., Journal of Industrial and Management Optimization 2021 P. 1–24
The shareholder’s interest oriented from business operation relies on opportunism regulation of the manager under asymmetry. Effective motivation incentives should be exploited to facilitate the manager’s effort devotion enthusiasms. This paper establishes a theoretic model in which the shareholder offers equity-based incentive to a fairness-preferred manager to coordinate their interest conflicts and maximize her expected ...
Added: October 3, 2021
Krasikov I., Lamba R., Journal of Economic Theory 2021 No. 193 Article 105196
Financial constraints preclude many surplus producing economic transactions, and inhibit the growth of many others. This paper models financial constraints as the interaction of two forces: the agent has persistent private information and is strapped for cash. The wedge between the optimal and efficient allocation, termed distortion, increases over time with each successive “bad shock” ...
Added: March 3, 2021
Savitskaya E. V., В кн.: Большая Евразия: Развитие, безопасность, сотрудничество. Ежегодник. Вып. 3. Ч. 1. Материалы XIX Национальной научной конференции с международным участием «Модернизация России: приоритеты, проблемы, решения». Ч. 2.: ИНИОН РАН. Отд. науч. сотрудничества, 2020. С. 735–739.
Попадание университета в мировые рейтинги - наряду со сложившейся репутацией вуза - рассматриваются абитуриентами как сигналы о его качестве. Если эти сигналы адекватно отражают качество учебного процесса, то информационная асимметрия преодолевается, и наличие в высшем образовании элитного и массового сегмента соответствует разделяющему равновесию. Если же сигналы содержат искажения, а абитуриенты об этом не знают, то асимметричная ...
Added: May 20, 2020
Grinikh A., В кн.: Процессы управления и устойчивость Том 6 (22)Т. 6. Кн. 22.: СПб.: Издательский дом Федоровой Г.В., 2019. С. 409–413.
Finite-stage repeated n-person prisoner's dilemma is considered. The paper presents the new strategy profile with high payoffs for the players and stable in some sense against coalitional or individual deviations. It is proved that there exists an equilibrium profile with maximal joint payoff of players during the first steps. On the next stages the profile ...
Added: October 31, 2019
Pankratova Y., Petrosyan L., Proceedings of the Steklov Institute of Mathematics 2019 Vol. 305 P. 140–149
In our previous papers (2002, 2017), we derived conditions for the existence of a strong Nash equilibrium in multistage nonzero-sum games under additional constraints on the possible deviations of coalitions from their agreed-upon strategies. These constraints allowed only one-time simultaneous deviations of all the players in a coalition. However, it is clear that in real-world ...
Added: October 26, 2019
V.L. Kreps, Automation and Remote Control 2019 Vol. 80 No. 2 P. 362–379
Using a simplified multistage bidding model with asymmetrically informed agents, De Meyer and Saley [17] demonstrated an idea of endogenous origin of the Brownian component in the evolution of prices on stock markets: random price fluctuations may be caused by strategic randomization of “insiders.” The model is reduced to a repeated game with incomplete information. ...
Added: May 7, 2019
Makarova V. A., Кальченко А. В., Пацей Л. А., Научный журнал НИУ ИТМО. Серия: Экономика и экологический менеджмент 2018 № 3 С. 61–75
Within the framework of this work, the phenomenon of short-termism as an obstacle to the creation of a long-term strategy has been studied using the example of the Russian metallurgical industry. Disclosure of factors to strengthen the policy of short-term decisions occurs through the theory of information asymmetry. Speaking particularly about short-run planning horizons, we ...
Added: October 2, 2018
Kondrashova E. V., Зайцева О. Б., Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (Германия) 2017 Vol. 10684 P. 65–74
We study a single-channel queuing system with an arbitrary distribution of the duration of service requirements, on the input of which there are n Poisson processes. The requirements of the various processes come in di erent queues. The task is to determine the rule for selecting service requirements and to determine the optimal strategy for establish- ...
Added: October 25, 2017
Kondrashova E. V., Zaytseva O. B., , in: Analytical and computational methods in probability theory and its applications (ACMPT-2017). Proceedings of the International Scientific Conference.: M.: RUDN, 2017. P. 21–26.
We study a single-channel queuing system with an arbitrary distribution of the duration of service requirements, on the input of which there are n Poisson processes. The requirements of the various processes come in di erent queues. The task is to determine the rule for selecting service requirements and to determine the optimal strategy for establish- ...
Added: October 25, 2017
Savitskaya E. V., Алтунина Н. С., Журнал институциональных исследований 2017 Т. 9 № 1 С. 117–133
In the article, we attempt to underpin the hypothesis that under certain conditions a propitious selection may take place on the higher education market. It is a phenomenon when brand universities automatically reproduce their positive reputation without improving the quality of teaching due to influx of talented entrants. We apply econometric modelling and regression analysis ...
Added: March 21, 2017
Yormirzoev M., Perm University Herald. Economy 2016 No. 4(31)
Over the last decade, an international inflow of remittances throughout the world has increased significantly, becoming the second largest source of foreign financial receipts. It is generally accepted that migrants’ transfers have the potential to benefit recipient countries. The empirical evidence of earlier studies provides controversial conclusions; the literature did not give special attention to ...
Added: December 23, 2016
Stepanov S., Suvorov A., Journal of Economic Behavior and Organization 2017 No. 133 P. 87–107
We propose a model in which an entrepreneur, seeking outside fi nancing, sells a large equity share to an outside blockholder in order to signal his low propensity to extract private benefi ts. A conventional theoretical rationale for the presence of an outside block holder is mitigation of the agency problem via some type of ...
Added: December 13, 2016
Kashtanov V., Надежность 2015 Т. 55 № 4 С. 3–9
The optimal strategy of the structure control in queue and reliability model is studied by using controlled semi-Markov processes. The optimal strategy has been proved to be looked for in the class of threshold strategies. ...
Added: February 23, 2016
Kreps V. L., Domansky V. C., Contributions to Game Theory and Management 2014 Vol. 8 P. 21–34
We consider multistage bidding models where several types of risky assets (shares) are traded between two agents that have different information on the liquidation prices of traded assets. These random prices depend on “a state of nature”, that is determined by the initial chance move according to a probability distribution that is known to both ...
Added: December 4, 2015
Sandomirskaia M., В кн.: XII Всероссийское совещание по проблемам управления. ВСПУ-2014. Москва, 16-19 июня 2014 г.: Труды [Электронный ресурс].: М.: Институт проблем управления им. В.А. Трапезникова РАН, 2014. С. 8358–8362.
The paper considers a game-theoretical model of bidding with asymmetric information. One player has the inside information on the liquidation price of risky asset. The model is formalized with the repeated game with incomplete information on the side of uninformed player. We consider the case of external stopping of the game at the random moment. ...
Added: October 9, 2015
Akhmedov A., Suvorov A., B.E. Journal of Theoretical Economics 2014 Vol. 14 No. 1 P. 1–34
Added: July 21, 2015
Sandomirskaia M., Управление большими системами: сборник трудов 2014 № 49 С. 207–234
The model of multistage insider trading between two market agents for one-type risky assets is considered. One of the players (insider) has private information about liquidation value of the asset. At each step of the bidding each player simultaneously proposes bid and ask prices for one share with fixed non-zero spread. The uninformed player uses ...
Added: September 15, 2014
Sandomirskaia M., Domansky V. C., Математическая теория игр и ее приложения 2012 Т. 4 № 1 С. 32–54
We investigate a model of one-stage bidding between two differently informed stockmarket agents where one unit of risky asset (share) is traded. The random liquidation price of a share may take two values: the integer positive m with probability p and 0 with probability 1-p. Player 1 (insider) is informed about the price, Player 2 ...
Added: April 15, 2014
Polishchuk L., Tonis A., / NRU Higher School of Economics. Series WP10 "Научные доклады Института институциональных исследований". 2009. No. 05.
We describe optimal rent-seeking success functions (RSSFs), which maximize expected revenues of an administrator who allocates under informational asymmetry a source of rent among competing bidders. Optimal mechanism design produces RSSFs similar or identical to those widely used in the literature, thus offering a solid microeconomic foundation for such functional forms. Various properties and extensions ...
Added: March 16, 2013