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We consider the class of two-player symmetric n x n games with the total bandwagon property (TBP) introduced by Kandori and Rob (1998). We show that a game has TBP if and only if the game has 2^n - 1 symmetric Nash equilibria. We extend this result to bimatrix games by introducing the generalized TBP. This sheds light on the (wrong) conjecture of Quint and Shubik (1997) that any n x n bimatrix game has at most 2^n - 1 Nash equilibria. As for an equilibrium selection criterion, I show the existence of a ½-dominant equilibrium for two subclasses of games with TBP: (i) supermodular games; (ii) potential games. As an application, we consider the minimum-effort game, which does not satisfy TBP, but is a limit case of TBP. (author's abstract) / Series: Department of Economics Working Paper Series

The thesis deals with market models with random inputs represented by the newsvendor problem for which the randomness is given through a random number of customers. Presented work is divided into three chapters. In the first chapter we present the elementar newsvendor problem as stochastic programming problem with a fixed recourse. In the second chapter we present the multiplayer game theory adapted to the newsvendors problem. Moreover, in the second chapter we extend the problem by the second newsvendor on the market and in the third chapter we generalize the problem for n newsvendors on the market. We deal with the situations that arise in the chapters two and three from the game theory point of view and we study characteristics of a Nash equilibrium. Presented theory is demonstrated on illustrative examples in the ends of the two last chapters. 1

O presente trabalho busca apresentar uma aplicação da teoria dos jogos, de modo a complementar a literatura que utiliza esse referencial teórico e alcançar conclusões pertinentes que desafiam o senso comum. O assunto trabalhado são os debates políticos televisivos e o excesso de acusações realizadas pelos participantes. Através de premissas e expectativas dos jogos não cooperativos, que foram aplicadas sobre os debates de 2º turno das eleições presidenciais de 1989, 2006, 2010 e 2014, a hipótese de que a razão de tal comportamento é a própria organização do jogo, e não uma eventual falta de propostas a serem apresentadas pelos políticos, não é refutada empiricamente. Além disso, sugestões de mudanças de regras desses programas são realizadas, de modo que seu objetivo principal, a exposição de planos de governo, passe a ser atingido. / The present work seeks to present an application of the Game Theory, in order to complement the literature that uses this theoretical reference and to reach pertinent conclusions that defy common sense. The topic that is going to be studied are the televised political debates and the excess of accusations made by the participants. Through assumptions and expectations of non-cooperative games, that were applied to the 2nd round debates of the 1989, 2006, 2010 and 2014 presidential elections, the hypothesis that the reason for such behavior is the organization of the game, not an eventual lack of proposals by the political parties, is not empirically refuted. In addition, suggestions for changes in the rules of these programs are made, in order to ensure that the primary debates\' goal of exposing government plans is reached.

O modelo a ser apresentado consiste em um jogo de preço e localização entre duas firmas. Utiliza-se o pressuposto de que os consumidores têm sua utilidade positivamente afetada por um efeito de rede, ou seja, são diretamente influenciados pela tamanho da demanda do bem. Dispondo os consumidores uniformemente distribuídos dentro de um intervalo linear [0, 1], buscamos encontrar os equilíbrios de preço e localização do jogo proposto. Verificamos que, dados os pressupostos do modelo, existem equilíbrios de Nash para cada subjogo e dependerão da força dos efeitos de rede. Quando os efeitos de rede são fortes o suficiente, os preços praticados serão inicialmente reduzidos até que o monopólio seja alcançado por uma das firmas, quando o preço será elevado e a outra firma passará a cobrar um preço nulo. No subjogo de localizações foi possível identificar que, no caso em que o poder do efeito de rede está acima de um determinado nível, as firmas não irão diferenciar seus produtos e se localizarão em algum ponto dentro do intervalo fechado [1/4 , 3/4] / The model to be presented is a price-location game between two firms. The assumption is that consumers\' utility is positively affected by a network effect, i.e. it is directly influenced by the size of demand. Distributing consumers uniformly in a linear interval [0, 1] we seek the price and location equilibrium of the proposed game. We found that, given the model assumptions, there are Nash equilibria for each subset that depend on the strength of network effects. When network effects are strong enough, prices are initially reduced until the monopoly is reached by one of the firms, then the price rises and the other firm shall charge a null price. In the subgame of locations, when the power of the network effect is above a certain level, the firms will not differentiate their products and will be located at any point within the closed interval [1/4 , 3/4]

The electricity transmission and distribution (T&D) grid is undergoing a paradigm shift as renewable generation explodes while flexible, storage-like loads are being massively adopted. We address the intermittency and volatility issues of renewable resources in connection with spatiotemporal distribution location-specific marginal-cost-based prices (DLMPs) that guide flexible loads to utilize their significant degrees of freedom for the purpose of providing valuable storage-like services to the grid including demand response, energy charge/discharge arbitrage and regulation reserve services. Dynamic DLMPs can induce socially optimal energy and reserve schedules to be adopted by flexible load. To this end, existing transmission wholesale markets must be extended to include distribution network connected participants. Since the inclusion of the complex preferences of many flexible loads renders familiar centralized transmission market designs intractable, we propose and investigate tractable decentralized market designs with Electric Vehicle (EV) battery charging selected as the representative flexible load. We address the equilibrium existence, uniqueness, and efficiency issues that arise with decentralized market designs, using game theory techniques. We investigate various multi-hour and multi-commodity (energy and reserves) market designs including EV self-scheduling under distribution network information aware/unaware conditions, and single or multiple load aggregator(s) scheduling groups of EVs. We investigate the role of network related information in enabling partially price anticipating EVs to acquire market power and self-schedule to achieve individual benefits at the expense of social welfare. Our contribution is the proof of existence and uniqueness of decentralized market equilibria, as well as analytical and numerical comparative analysis. Secondly, we depart from the usual ideal battery assumption, employing instead a realistic two bucket model. We then develop a novel Markovian Decision Process (MDP) application to estimate the regulation tracking cost incurred over an hour by an EV charger employing an optimal controller to respond to the regulation signal which is reset every two seconds by the system operator. The hourly tracking error increases when the EV promises higher regulation reserves while at the same time demanding an achievable albeit high average charging rate. We solve the MDP repeatedly, in fact off line, to capture the impact of the average charging rate and the regulation reserves promised at the beginning of an hour to the resulting hourly regulation tracking error. We then estimate a convex closed form relationship mapping hourly charging rate and regulation reserve offerings to the expected hourly tracking error cost. These convex tracking cost functions provide crucial input to the day ahead hourly energy bids and regulation reserve offers made by individual EVs to the Day Ahead market in response to spatiotemporal DLMPs.

In this paper an extension of the well-known binomial approach to option pricing is presented. The classical question is: What is the price of an option on the risky asset? The traditional answer is obtained with the help of a replicating portfolio by ruling out arbitrage. Instead a two-person game from the Nash equilibrium of which the option price can be derived is formulated. Consequently both the underlying asset’s price at expiration and the price of the option on this asset are endogenously determined. The option price derived this way turns out, however, to be identical to the classical no-arbitrage option price of the binomial model if the expiration-date prices of the underlying asset and the corresponding risk-neutral probability are properly adjusted according to the Nash equilibrium data of the game.

The increasing popularity and widespread deployment of wireless data systems fuel the increasing demand for more spectrum. On the other hand, various studies measuring spectrum utilization show that there is a huge variation in spectrum utilization at different times and locations. In view of this, various dynamic spectrum access (DSA) methods have been proposed in order to achieve more efficient utilization of spectrum resources by virtue of exploiting the variations in spectrum demand over time and space. Implementing DSA systems in a centralized way can lead to complexity and scalability problems due to the extensive control signaling involved. Therefore distributed implementations of DSA systems in which the users can access the system resources at their own discretion have been proposed. These distributed mechanisms typically incorporate cognitive radio systems which act as agents on behalf of users to measure the radio environment and make decisions based on these measurements. On the other hand, the freedom of the users in distributed systems to form their actions can lead each user to try to maximize its benefit from the system without regard the overall performance of the DSA system. Therefore, selfish behavior can prevail in distributed systems, which is likely to degrade the system performance.In this thesis we investigate the implications of selfish decision making in dynamic spectrum access systems. To address this broad problem, we focus our analysis on a particular system which can represent the essential properties of DSA systems and thus can shed light on the performance of the broad class of DSA systems with selfish users. Specifically, we model a DSA system as a multichannel random access system which uses ALOHA for medium access, and we analyze the behavior of the selfish users by modeling the system as a non-cooperative game. In this analysis we incorporate the effect of channel state information on the decision making of the users; we consider both cases when the users act on global (complete) and on local (incomplete) information. We determine the behavior of the selfish users at the Nash equilibria of the non-cooperative game and measure the performance of the system in terms of sum and individual utilities for various user loads and amount of available resources. We try to identify how the performance of the DSA system with selfish users compares with its cooperative counterpart. By performing these analyses we provide insights into the broader question of whether selfish users can utilize spectrum resources in a DSA system as well as cooperative users. / <p>QC 20111208</p> / MultiOperator Dynamic Spectrum access (MODyS)

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