[00357] Topics at the Interface between Applied mathematics and Microeconomics
Session Time & Room : 2E (Aug.22, 17:40-19:20) @D501
Type : Proposal of Minisymposium
Abstract : Traditionally, economic models were easier to understand in the context of economics. Still, recent advances in mathematical methods, particularly in applied mathematics and computer science, enable a more realistic and intuitive approach to economic phenomena. This session will present recent research on how economic theory relates to applied mathematics.
[01659] Commitment games with mutual interferences
Format : Talk at Waseda University
Author(s) :
Ryosuke Ishii (Shimonoseki City University)
Abstract : As a stabilization device of an efficient outcome that is not an equilibrium as it now stands outcome, commitments have been assembled in game theory literature. Earlier studies suggest that efficient outcomes are subgame perfect if a game is expressed by an extensive form with a perfect information. However, an outcome of a game with simultaneous moves is not always efficient, most often happen when players face a prisoners' dilemma like situation. This research considers a game in which players can determine success or failure of other players' commitment one another. The result is similar to a Folk Theorem. That is, players can achieve efficiency in prisoners' dilemma games. In contrast, the worst mixed equilibrium outcome is subgame perfect in coordination games.
[01666] Equilibria in a spatial competition with uninformed consumers
Format : Talk at Waseda University
Author(s) :
Kuninori Nakagawa (University of Hyogo)
Shinnosuke Kawai (Shizuoka University)
Abstract : We extend a model that analyses explicit product differentiation in Varian's model of sales using a one-dimensional spatial competition framework. We study the price equilibrium in the case of a uniform distribution of informed consumers. We give examples of price game equilibria given pairs of locations and discuss the difficulties associated with computing equilibria.
[01655] Gradient flows in travelers’ visitation network: comparison with centrality indices
Format : Online Talk on Zoom
Author(s) :
Yujiro Kawasaki (Nagoya Institute of Technology)
Kenta Kojima (Kansai University)
Jun'ichi Miki (Tohoku University of Community Service and Science)
Abstract : The Hodge decomposition defined on discrete graphs has been applied to analyzing network structures related to various economic activities. We use the travel data of tourists visiting a regional city in Japan to examine the effectiveness of the Hodge decomposition on the network of tourist movements between sightseeing spots. By employing centrality indices together, we provide robust trends of tourist visits and, thus, the function of each sightseeing spot.
[01678] Information Design and Pre-trade Investment
Format : Online Talk on Zoom
Author(s) :
Keiichi Kawai (Keio University)
Abstract : We analyze a bilateral trade model where, after the buyer makes a take-it-or-leave-it offer, the seller can make a costly investment which stochastically increases the value of the good to both players. The seller partially learns about the investment outcome before deciding whether to trade. The efficiency of the outcome is undermined by both the adverse selection problem in trade, and the seller’s moral hazard in investment. We identify all second-best outcomes.
