Strong time-consistency in the cartel-versus-fringe model

In the seventies and eighties the theory of exhaustible natural resources developed a branch which was called the cartel-versus-fringe model to characterize markets with one large coherent cartel and a big number of small suppliers named the fringe. It was considered appropriate to use the von Stackelberg solution concept but because solutions could only be derived in an openloop framework timeinconsistency resulted. This paper solves time-inconsistency in the cartel-versus-fringe model and provides the feedback von Stackelberg equilibrium for all cost congurations

Strong Time-Consistency in the Cartel-versus-Fringe Model

In the seventies and eighties, the theory of exhaustible natural resources developed a branch, which was called the cartel-versus-fringe model, to characterize markets with one large coherent cartel and a big number of small suppliers named the fringe.It was considered appropriate to use the von Stackelberg solution concept but because solutions could only be derived in an open-loop framework time-inconsistency resulted.This paper solves time-inconsistency in the cartel-versus-fringe model and provides the feedback von Stackelberg equilibrium for all cost configurations.

Strong time-consistency in the cartel-versus-fringe model

In the seventies and eighties the theory of exhaustible natural resources developed a branch which was called the cartel-versus-fringe model to characterize markets with one large coherent cartel and a big number of small suppliers named the fringe. It was considered appropriate to use the von Stackelberg solution concept but because solutions could only be derived in an openloop framework timeinconsistency resulted. This paper solves time-inconsistency in the cartel-versus-fringe model and provides the feedback von Stackelberg equilibrium for all cost congurations

A new approach to (quasi) periodic boundary conditions in micromagnetics: the macrogeometry

We present a new method to simulate repetitive ferromagnetic structures. This macro geometry approach combines treatment of short-range interactions (i.e. the exchange field) as for periodic boundary conditions with a specification of the arrangement of copies of the primary simulation cell in order to correctly include effects of the demagnetizing field. This method (i) solves a consistency problem that prevents the naive application of 3d periodic boundary conditions in micromagnetism and (ii) is well suited for the efficient simulation of repetitive systems of any size