Theoretical and Applied Economics
No. 5 / 2011 (558)
Bayes-Nash Equilibrium and Game Theory in Public Expenditure Management
University of Oradea
Marcel Ioan BOLOŞ
University of Oradea
Cristian Ioan OTGON
University of Oradea
Abstract. Auctions purchases represent an effective mechanism for public authorities, designed to provide the buyer (public authority), products and services with a convenient time to complete the transaction and the option to set a minimum price. In this paper we will study the problem of the optimal public expenditure rules using Bayes-Nash equilibrium in an symmetrical auction with knowledge of independent value, meaning each bidder knows only his own information. After setting the function for optimum balance to profit for the bidders by minimizing this function (the derivation of I order) and maximize it (the derivation of II order), it has to identify the optimal range where the offer of a bidder for products and services will stand.
Keywords: auction, Bayes-Nash equilibrium, optimization, public authorities, public expenditure.
Contents
- Model for the Assessment of the Effectiveness of the Banking Supervision Activity
Nicolae DARDAC
Elena GEORGESCU
- The State and the Economy – Theoretical Aspects
and Empirical Evidence for the EU
Simona-Gabriela MAŞCA
Viorela Ligia VĂIDEAN
Andreea GOLGUŢ
- Education and Employment in Sub-Saharan Africa:
Some Evidence from Senegal
Barassou DIAWARA
Mazhar MUGHAL
- Bayes-Nash Equilibrium and Game Theory in Public Expenditure Management
Petru FILIP
Marcel Ioan BOLOŞ
Cristian Ioan OTGON
- The Economic Crisis and Several Effects on Global Economy
Florina BRAN
Carmen Valentina RĂDULESCU
Ildikó IOAN
Florentina Olivia BĂLU
- Tourism as a Factor in Economic Recovery
Cristina BURGHELEA
Cristina VIŞAN
- Economic Science and Postmodernism: Ethics Return
Cosmin MARINESCU
- Romanian Economic Environment Entrepreneurial
Activities Analysis and Risk Evaluation
Georgeta VINTILĂ
Ştefan Daniel ARMEANU
Maria Oana FILIPESCU
Maricica MOSCALU
Paula LAZĂR
- Transylvania – Romanian Tourism Micro-destination
Aurelia-Felicia STĂNCIOIU
Codruţa BĂLTESCU
Anca-Daniela VLĂDOI
Ion PÂRGARU
Virgil NICULA
- The Crisis of Economic Theory in the Middle of the Economic Crisis
Silvia MĂRGINEAN
Roberta Mihaela STANEF
Alina Ştefania CREŢU