This paper studies the effect of veto right on players’income in multi-player dynamic bargaining game.Based on a basic multi-person dynamic bargaining model generalized by the Rubinstein’s two-person alternating-off...This paper studies the effect of veto right on players’income in multi-player dynamic bargaining game.Based on a basic multi-person dynamic bargaining model generalized by the Rubinstein’s two-person alternating-offer bargaining model,the authors construct a dynamic multi-player bargaining game with veto players by adding a constraint to its negotiation process,which is obtained by studying the influence of exercising the veto right exercised by veto players.The authors emphatically describe the strategic game form of this dynamic bargaining game and study its equilibrium,then we analyze the relationship between the minimum acceptable payoff of the veto players and the equilibrium income.The research shows that veto right may increase the benefits of veto players and decrease the benefits of non-veto players.Veto players will not affect the players’benefits and the form of equilibrium when the minimum acceptable payoff of every veto player is relatively low.When the minimum acceptable payoff of the veto player is high enough,he can only get the minimum acceptable payoff,and his benefit increases as his minimum acceptable payoff increases.In this case,the veto player has intention to obtain more resources by presenting a higher minimum acceptable payoff.展开更多
Central Asia is emerging as an important pole of global economic and political power,thanks to its unique location at the heart of Eurasia and its abundance in energy reserves.This study explores the social power chan...Central Asia is emerging as an important pole of global economic and political power,thanks to its unique location at the heart of Eurasia and its abundance in energy reserves.This study explores the social power change in Central Asia from the perspective of cross-border mergers and acquisitions(M&A)by using the social network method.The main results are as follows:(1)The complexity of the energy M&A network has significantly decreased after the financial crisis in 2008.In the meantime,energy M&A became an important way to enhance energy power for buyer countries.Betweenness centrality is becoming the most significant factor affecting energy power,yet the effect of out-degree is weakening.(2)The community underwent multifaceted restructuring,which reflected the shift of energy power in Central Asia.Kazakhstan is the most powerful country in the energy sector in Central Asia.In addition,East Asian countries/regions,represented by China,are actively enhancing their energy power.(3)Different M&A modes reflect various M&A motivations of countries in the energy sector.In the future,more efforts should be made to promote the establishment of a pragmatic and efficient multilateral energy cooperation mechanism and strength the cooperation of the economy and energy finance when China participates in the energy market in Central Asia.展开更多
基金the National Natural Science Foundation of China under Grant No.71871171。
文摘This paper studies the effect of veto right on players’income in multi-player dynamic bargaining game.Based on a basic multi-person dynamic bargaining model generalized by the Rubinstein’s two-person alternating-offer bargaining model,the authors construct a dynamic multi-player bargaining game with veto players by adding a constraint to its negotiation process,which is obtained by studying the influence of exercising the veto right exercised by veto players.The authors emphatically describe the strategic game form of this dynamic bargaining game and study its equilibrium,then we analyze the relationship between the minimum acceptable payoff of the veto players and the equilibrium income.The research shows that veto right may increase the benefits of veto players and decrease the benefits of non-veto players.Veto players will not affect the players’benefits and the form of equilibrium when the minimum acceptable payoff of every veto player is relatively low.When the minimum acceptable payoff of the veto player is high enough,he can only get the minimum acceptable payoff,and his benefit increases as his minimum acceptable payoff increases.In this case,the veto player has intention to obtain more resources by presenting a higher minimum acceptable payoff.
基金The Strategic Priority Research of the CAS,No.XDA20040400National Natural Science Foundation of China,No.41871118,No.42022007China Scholarship Council,No.201904910633。
文摘Central Asia is emerging as an important pole of global economic and political power,thanks to its unique location at the heart of Eurasia and its abundance in energy reserves.This study explores the social power change in Central Asia from the perspective of cross-border mergers and acquisitions(M&A)by using the social network method.The main results are as follows:(1)The complexity of the energy M&A network has significantly decreased after the financial crisis in 2008.In the meantime,energy M&A became an important way to enhance energy power for buyer countries.Betweenness centrality is becoming the most significant factor affecting energy power,yet the effect of out-degree is weakening.(2)The community underwent multifaceted restructuring,which reflected the shift of energy power in Central Asia.Kazakhstan is the most powerful country in the energy sector in Central Asia.In addition,East Asian countries/regions,represented by China,are actively enhancing their energy power.(3)Different M&A modes reflect various M&A motivations of countries in the energy sector.In the future,more efforts should be made to promote the establishment of a pragmatic and efficient multilateral energy cooperation mechanism and strength the cooperation of the economy and energy finance when China participates in the energy market in Central Asia.
