scholarly journals Dynamic Contracting under Positive Commitment

2019 ◽  
Vol 33 ◽  
pp. 2101-2108 ◽  
Author(s):  
Ilan Lobel ◽  
Renato Paes Leme
Keyword(s):  
Dynamic Game ◽  
Perfect Bayesian Equilibrium ◽  
Dynamic Contracting ◽  
Bayesian Equilibrium ◽  
Ex Ante ◽  
The Future ◽  
Over Time ◽  
Sequential Rationality

We consider a firm that sells products that arrive over time to a buyer. We study this problem under a notion we call positive commitment, where the seller is allowed to make binding positive promises to the buyer about items arriving in the future, but is not allowed to commit not to make further offers to the buyer in the future. We model this problem as a dynamic game where the seller chooses a mechanism at each period subject to a sequential rationality constraint, and characterize the perfect Bayesian equilibrium of this dynamic game. We prove the equilibrium is efficient and that the seller’s revenue is a function of the buyer’s ex ante utility under a no commitment model. In particular, all goods are sold in advance to the buyer at what we call the positive commitment price.

A Theory of Credibility under Commitment

2010 ◽  
Vol 10 (1) ◽  
Author(s):  
Daniel Monte
Keyword(s):  
Alternative Explanation ◽  
Specific Class ◽  
Optimal Contract ◽  
Perfect Bayesian Equilibrium ◽  
Optimal Contracts ◽  
Bayesian Equilibrium ◽  
Contracting Costs ◽  
Contingency Contract ◽  
Sequential Rationality

The ability to commit to a contract may increase a player's payoff. In a repeated relationship, the lack of a complete contingency contract is usually explained by the presence of contracting costs. We study optimal contracts in a specific class of credibility models: relationships in which the surplus comes solely from screening. We show that the optimal contract is to reproduce the Perfect Bayesian Equilibrium of the game without commitment. In this sense, sequential rationality constraints do not bind. Therefore, we provide an alternative explanation for why a specific class of long-term relationships may often not be contracted upon.

scholarly journals Escalation in conflict games: on beliefs and selection

2019 ◽  
Vol 23 (3) ◽  
pp. 750-787 ◽  
Author(s):  
Kai A. Konrad ◽  
Florian Morath
Keyword(s):  
Simple Game ◽  
Dynamic Game ◽  
Complete Information ◽  
Belief Formation ◽  
Experimental Setup ◽  
Perfect Bayesian Equilibrium ◽  
Social Projection ◽  
Bayesian Equilibrium ◽  
Self Selection ◽  
Multi Stage

AbstractWe study learning and selection and their implications for possible effort escalation in a simple game of dynamic property rights conflict: a multi-stage contest with random resolve. Accounting for the empirically well-documented heterogeneity of behavioral motives of players in such games turns the interaction into a dynamic game of incomplete information. In contrast to the standard benchmark with complete information, the perfect Bayesian equilibrium features social projection and type-dependent escalation of efforts caused by learning. A corresponding experimental setup provides evidence for type heterogeneity, for belief formation and updating, for self-selection and for escalation of efforts in later stages.

The Path to Intractability: Time and the Entrenchment of Territorial Disputes

2007 ◽  
Vol 31 (3) ◽  
pp. 107-138 ◽  
Author(s):  
Ron E. Hassner
Keyword(s):  
Dispute Resolution ◽  
Economic Value ◽  
Territorial Disputes ◽  
Territorial Dispute ◽  
Physical Constraints ◽  
Ex Ante ◽  
The Future ◽  
Definition Of ◽  
Over Time

Why do territorial disputes become more difficult to resolve over time? Why are states often unable to resolve long-standing territorial disputes over land that is of little strategic or economic value? One explanation for territorial dispute entrenchment draws on changes in dispute perception. Specifically, as territorial disputes mature they undergo processes that increase the integrity of the disputed territory, clarify the definition of the territory's boundaries, and make it more difficult to find substitutes for the territory. Territorial dispute resolution is both stochastic and exogenous to the entrenchment process and thus impossible to predict. It is possible, however, to forecast ex ante the degree to which young territorial disputes are likely to resist resolution efforts in the future based on two variables: perceptions of a territory's integrity, boundaries, and value at the outset of the dispute, and physical constraints on expansion and settlement into the territory.

scholarly journals Agritourism—A Business Reality of the Moment for Romanian Rural Area’s Sustainability

2021 ◽  
Vol 13 (11) ◽  
pp. 6313
Author(s):  
Ramona Ciolac ◽  
Tiberiu Iancu ◽  
Ioan Brad ◽  
Tabita Adamov ◽  
Nicoleta Mateoc-Sîrb
Keyword(s):  
Rural Communities ◽  
Distribution Channels ◽  
Scientific Paper ◽  
Business Owners ◽  
The Future ◽  
Tourism Potential ◽  
The Moment ◽  
Managerial Experience ◽  
Over Time

The agritourism activity can be a characteristic reality of the present, considering rural area’s sustainability, being at the same time a business reality for rural entrepreneurs and a “must have” for rural communities that have tourism potential. It is a form of tourism, through which the tourist can receive a qualitative product at a reasonable price, but also a field that can ensure sustainable development over time, being at the same time environmentally friendly. The purpose of this scientific paper is to identify the aspects that make agritourism “a possible business reality of the moment”, for Romanian rural area’s sustainability. We take into account the following areas: Bran-Moieciu area—considered “the oldest” in terms of agritourism experience, and Apuseni Mountains area, with a great inclination and potential for this activity. The study conducted for these two areas is focused on several aspects: the degree of involvement in agritourism activities, considering the number of years and managerial experience, the analysis of the types of activities/experiences offered by agritourism structures, the identification of the main reasons/motivations for the orientation towards agritourism and the manner in which this field is perceived. Aspects related to the marketing-finance part of the agritourism business are also taken into account: customers, distribution channels, financial sources, shortcomings observed by agritourism business owners and possible action directions so as to improve the activity/agritourism product. Agritourism may be “a possible business reality of the moment” for the studied areas and not only, but in the future, the entrepreneur/farmer must be constantly updated because of the changing situations that appear on the market, be able to make sustainable decisions for his/her own business, which in the future will ensure its viability and obviously its long-term profitability and development, and in the same time rural area’s sustainability.

The Internet according to kids

2002 ◽  
Vol 3 (2) ◽  
pp. 45-52
Author(s):  
Jorian Clarke
Keyword(s):  
Parental Involvement ◽  
Mobile Phones ◽  
Online Shopping ◽  
Online Banking ◽  
Internet Usage ◽  
The Internet ◽  
The Future ◽  
Child Friendly ◽  
Over Time

Describes a six‐year study of children’s Internet usage which shows how preferences and habits have changed over time; this was conducted by SpectraCom Inc and Circle 1 network. Explains the research methodology and the objectives, which were to identify trends in the amount of time spent by children online now and in future, their opinions about the future role of the Internet in society and the future of e‐commerce, and parents’ roles in children’s online activities. Concludes that there is need for a more child‐friendly content in Internet sites and for more parental involvement, that children will be influential in the market for alternative devices like mobile phones, that online shopping is likely to flourish, and that children have a growing interest in online banking.

scholarly journals China’s Investments in Germany and the Impact of the COVID-19 Pandemic

2021 ◽  
Vol 56 (2) ◽  
pp. 113-119
Author(s):  
Xinming Xia ◽  
Wan-Hsin Liu
Keyword(s):  
Large Scale ◽  
Know How ◽  
Advanced Technologies ◽  
The Future ◽  
Potential Impact ◽  
Chinese State ◽  
The Impact ◽  
Gain Access ◽  
Over Time

AbstractThis paper analyses how China’s investments in Germany have developed over time and the potential impact of the COVID-19 pandemic in this regard, based on four different datasets, including our own survey in mid-2020. Our analysis shows that Germany is currently one of the most attractive investment destinations for Chinese investors. Chinese state-owned enterprises have played an important role as investors in Germany — particularly in large-scale projects. The COVID-19 pandemic has had some negative but rather temporary effects on Chinese investments in Germany. Germany is expected to stay attractive to Chinese investors who seek to gain access to advanced technologies and know-how in the future.

scholarly journals A Central Element of Europe’s Football Ecosystem: Competitive Intensity in the “Big Five”

2021 ◽  
Vol 13 (6) ◽  
pp. 3097
Author(s):  
Fabio Wagner ◽  
Holger Preuss ◽  
Thomas Könecke
Keyword(s):  
Big Five ◽  
Central Element ◽  
Quantitative Approach ◽  
Competitive Intensity ◽  
Entrepreneurial Ecosystems ◽  
Long Run ◽  
The Future ◽  
European Football ◽  
Over Time

This study perceives professional European football as one of the most relevant event-related entrepreneurial ecosystems (EEs) worldwide. It also identifies a healthy sporting competition in the five most popular European football leagues (Spain, England, Germany, Italy, and France), the “big five,” as a key pillar for the functioning of this ecosystem. By applying a quantitative approach, competitive intensity (CI) is measured for all big five leagues for 21 seasons (1998/99 to 2018/19). The chosen method does not only convey an overall indication of the competitive health of the entire league but also provides detailed information on the four important sub-competitions (championship race, qualification for Champions League or Europa League, and the fight against relegation). In all five leagues, seasonal CI tends to decrease over time, and especially over the last decade. The main reason is a decline in the intensity of the championship race while all other sub-competitions show relatively robust CI values. Overall, it can be concluded that the competitive health of the big five is intact, but the dwindling CI of the championship races can harm the EE of professional European football in the long run. Accordingly, it should be closely monitored in the future.

Comparability and Short-Term Stability of Techniques to Assess Extension of Thinking about One's Personal Future

1983 ◽  
Vol 56 (2) ◽  
pp. 559-564 ◽  
Author(s):  
William Rakowski ◽  
Clifton E. Barber ◽  
Wayne C. Seelbach
Keyword(s):  
Data Collection ◽  
Life Events ◽  
Short Term ◽  
Life Event ◽  
Term Stability ◽  
The Future ◽  
Changes Over Time ◽  
Over Time

Three techniques for assessing extension of one's personal future (line-marking, open-ended report, life-events) were compared in a sample of 74 respondents. Two points of data collection were employed to examine short-term stability. At both administrations, correlations among indices suggested that techniques were only moderately comparable. Short-term stabilities were variable; correlations ranged from .42 to .79. Across subgroups of the sample, the direct, open-ended report of extension showed the greatest stability, while life-event extension showed the least. Apparently, extension of thinking about the future should be assessed by more than one technique to investigate potential relationships with other variables or changes over time in perspective about the future.

Militaire geschiedschrijving in de 21e eeuw

2021 ◽  
Vol 133 (4) ◽  
pp. 687-705
Author(s):  
Jan Hoffenaar
Keyword(s):  
Military History ◽  
Comprehensive Approach ◽  
Main Body ◽  
Academic World ◽  
Military Action ◽  
The Future ◽  
Over Time

Abstract Military History in the 21st CenturyThe field of military history has undergone profound changes in recent decades, the main feature of which has been to broaden the narrow traditional operational military historiography in terms of theme, perspective and methodology. This article very briefly discusses the position of the field in the academic and non-academic world. Then ‐ the main body of the article ‐ it explores the new historiographic paths military historians have taken over time, and analyzes the benefits and opportunities of these new practices, as well as the associated risks. Finally, a hopeful look is taken at the future of the field. It is argued that military historians with a comprehensive approach are best able to explain how the course of military action has influenced the general course of history and can thus make a full contribution to general historiography.

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