In 1998, the Irish government gave more than $4 million for an initial endowment, while sponsors include the British government and some of the largest corporations in Ireland.
Consider an agent, with an initial endowment x 0>0 and whose total wealth at time (sin [0,hat T]) is denoted by x(s).
To study cooperation experimentally, researchers typically use the public goods game that is played with groups of participants, each of whom owns an initial endowment.
Financing largely came from customs duties collected by a previous Lieutenant Governor, John Coape Sherbrooke, during the War of 1812 occupation of Castine, Maine; Sherbrooke invested GBP£7,000 as an initial endowment and reserved £3,000 for the physical construction of the college.
Furthermore, the Education Cannot Wait Fund, which was announced at the World Humanitarian Summit in Istanbul in May, received an initial endowment of US $100 million from businesses to provide education to children and youth affected by emergencies and conflicts.
The payoff of Player B is as follows: + 100 or 0 points (100 if the solution was sufficient, 0 if not) − price charged by Player A ("Price of Solution I" or "Price of Solution II") = payoff for Player B in this round At the beginning of the experiment you receive an initial endowment of 200 points.
At the beginning of our experiment, subjects were informed about their (fixed) role as either an expert or a consumer, and they received an initial endowment of 200 experimental currency units (ECU), equivalent to 2.5 Euro.
Each consumer i ∈ N = { 1, …, N } is characterized by his/her initial endowment of a private good ω i and his/her utility function u i : R + 2 → R. The production sector is represented by the transformation function G : R + → R +, where y = G ( x ) signifies the minimal private good quantities needed to produce the public good x.
Each consumer (iin mathbf {N}={1,ldots,n}) is characterized by his/her initial endowment of a private good (omega _{i}) and his/her utility function (u_{i}:mathbf {R}_^{2}rightarrow mathbf {R}).3 The production sector is represented by the transformation function (g:mathbf {R}_rightarrow mathbf {R}_), where (y=g(x)) signifies the minimal private good quantities needed to produce the public good x.
Unlike other mean-field game literature: (1) Here, the major and minor agents are endowed with different objective patterns: the major agent (say, the local government) aims to fulfill some prescribed future target, thus it is facing a "backward" LQ problem by minimizing the initial endowment.
