Supply Function Equilibria in Networks with Transport Constraints
In: IFN Working Paper No. 945
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In: IFN Working Paper No. 945
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In: Lecture Notes in Economics and Mathematical Systems 259
Openness, closedness and duality in Banach spaces with applications to continuous linear programming -- Conditions for the closedness of the characteristic cone associated with an infinite linear system -- Symmetric duality: a prelude -- Algebraic fundamentals of linear programming -- On regular semi-infinite optimization -- Semi-infinite programming and continuum physics -- On the computation of membrane-eigenvalues by semi-infinite programming methods -- Lagrangian methods for semi-infinite programming problems -- A new primal algorithm for semi-infinite linear programming -- Extreme points and purification algorithms in general linear programming -- Network programming in continuous time with node storage -- The theorem of Gale for infinite networks and applications -- Nonlinear optimal control problems as infinite-dimensional linear programming problems -- Continuity and asymptotic behaviour of the marginal function in optimal control -- Alternative theorems for general complementarity problems -- Nonsmooth analysis and optimization for a class of nonconvex mappings -- Minimum norm problems in normed vector lattices -- Stochastic nonsmooth analysis and optimization in Banach spaces -- Titles and authors of other papers presented at the symposium.
In: The Rand journal of economics, Band 44, Heft 1, S. 1-32
ISSN: 1756-2171
We introduce the concept of an offer distribution function to analyze randomized offer curves in multiunit procurement auctions. We characterize mixed‐strategy Nash equilibria for pay‐as‐bid auctions where demand is uncertain and costs are common knowledge, a setting for which pure‐strategy supply function equilibria typically do not exist. We generalize previous results on mixtures over horizontal offers as in Bertrand‐Edgeworth games and also characterize novel mixtures over partly increasing supply functions. We show that the randomization can cause considerable production inefficiencies.
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