Giskard
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This really depends on how one defines a "large" player. But for the Saudi Arabia/OPEC situation mentioned in the PBS article you linked one can imagine a made-up numerical example like this:...

This may be easy to understand in a "public good game" context. (The examples are rather about club goods, but the logic is the same.) A "public good game" can be thought of as a ...

Nudge: Read the paper On Hotelling's "Stability in Competition" by d'Aspremont, Gabszewicz and Thisse.

In mathematical models of economies (e.g., exchange economies), it is not necessary to include money. Prices do turn up as mathematical constructs ("shadow prices"). Modern economies have ...

Given that $T^i$ is $i's$ finite set of messages and the mechanism uses the signal function to map $T$ to a signal, the architects of the mechanism can use any arbitrary label for the individual ...

I find "horizontal axis" better than x-axis, because it does not use the name of a potential variable. However, I think your whole sentence focuses to much on what we see, and not on the ...

You could search on Google Scholar and restrict the range to end in 2019, thus avoiding all Covid-19 related literature. Some results for the range 1990-2019, keywords "vaccine openness education ...

If there is inflation, what is your alternative? If you do not lend, your money loses even more of its value. A numerical example: If inflation is 5% and you can lend at 2% nominal interest rate, you ...

A lot of cooperative game theory deals with transferable utility games, where players can easily transfer "utility" or "payoff" to each other. Another class is non-transferable ...

I would argue that utility theory is unfortunately meaningless in this context. As you point out, interpersonal utility comparisons don't work, I can always multiply a utility function by 10 and it ...

Yes: $$f(x_1,x_2)=-x_1x_2$$ has constant marginal return in both inputs and decreasing return to scale by your definition. EDIT: Answer above assumes OP meant "constant" as constant w.r.t....

Is it because risk seeking investors also get some utility from expected return? Yes. It is a common assumption that investors invest to get returns, so in this good space returns are indeed a "...

There can be several reasons. In case the subsamples are not random, the variable may be significant on a subsample and not on another. This would be a case of omitted variables. The larger a sample,...

From Wikipedia: Suppose that $f : X \to \mathbb{R}$ is a real-valued function whose domain is an arbitrary set $X.$ The set-theoretic support of $f$, written $\operatorname{supp}(f),$ is the set of ...

Given the assumption that $C(q)$ is continuously differentiable we have for all $q$: $$qAC(q) = C( q ) = FC + \int_0^{q} MC(x) \text{d}x.$$ Taking the difference for any pair $q,\hat{q}$:  qAC(q) ...

You claim that AC is minimised at MC=AC thus at this quantity $q_c$ we have $AC'(q_c) = 0$. We will show that given the assumptions $MC'(q_c) \geq 0$, that is $MC$ cannot be decreasing in $q$ at ...

An allocation is feasible if the aggregate consumption can be covered by production and the endowments.

Is it possible to show quasiconcavity from its definition, i.e., $u(ax_1+(1-a)y_1,ax_2+(1-a)y_2)\geq \textrm{min}\{u(x_1,x_2),u(y_1,y_2)\}$? Answer: Yes. A useful trick that can save you some ...

Like all entities except the US government: they trade for it on the currency exchange market. There are special cases when the US government gives aid without asking anything in return. A government ...

I am not sure why West Virginia is the least vaccinated state* in the US but If vaccination is progressing poorly in your state the government is more likely to try and encourage it by all sorts of ...

On profitability: From Investopedia (which is a poor source for economic principles, but hopefully acceptable for news items): ...Google does not report specific figures identifying the financial ...

An example to highlight the difference between correlated and uncorrelated random strategies in games of perfect information. Consider a game of Chicken with the payoff matrix Straight Chicken ...

From a Wikipedia page linked to in the question: [emphasis by me] Examples of games with incomplete but perfect information are conceptually more difficult to imagine, such as a Bayesian game. The ...

Spartan iron coins. Roman bronze coins: Aes Grave Chinese bronze coins: Ban liang (one type was bronze, not all) A non-metal "currency" backed by various industrial metals: the ...

The claim is not that capital decreases marginal productivity, but that the marginal productivity of capital is decreasing. (See "diminishing returns.") That is, the first "unit" ...

Demand is a function In economics, "demand" is an unfortunate shorthand for "demand function". Less frequently and even more unfortunately it is also used for quantity demanded at ...

In Does Government Size Affect Per-Capita Income Growth? A Hierarchical Meta-Regression Analysis, Churchill, Ugur and Yew write Since the late 1970s, the received wisdom has been that government size ...

Pairwise MRS The Marginal Rate of Substitution is usually defined as a pairwise thing. E.g., in case of three goods $x,y$ and $z$, you would have $\text{MRS}_{xy}, \text{MRS}_{xz}$ and \$\text{MRS}_{yz}...