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Therefore, the pair of contracts ((H^{1},y)) is a separating Nash equilibrium.
Consider for instance the pair of contracts (left{ H^, L^{prime }right} ) depicted in Fig. 3.
The equilibrium studied by NP is given by the pair of contracts (left( H^,L^{2b}right) ), where (Pi _{i}^{L}>0) while (Pi ^{H}=0).
On paper, the pair of contracts are worth $7 million CAD.
On paper, the pair of contracts are worth $7 million CAD [$5.3 million USD].
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Given the pair of menu contracts (ω p r,ω p u ), assuming truth-telling, the insurer's payoff is given by begin{aligned} W omega^{pr},omega^{pu}) &= lambda left{ phi left{left[1 - Cleft(H,e_{H}^{pr}right) - eta w_{H}^{pr}right](1 - d right.
Notes: For a MCL at (c^ = c^{P}) there exist two equilibria: one is given by the separating pair of contracts ({H^, L}), the other by pooling contract ({L}).
NY 128 was first constructed during the early 1900s with a pair of contracts handed out by the state of New York, which constructed the new alignment between NY 22 and the triangle junction with NY 117 in Mount Kisco.
Under the rubric of quality, the Doe Fund received two designations of "poor," on the low end, on a pair of contracts it had with the Department of Social Services, and an "excellent," on the high end, on a large contract with the Department of Homeless Services.
The San Antonio-based company has been in business for more than 20 years, has never lost money, and logged $5.9 million in sales last year, said the executive vice president, Robert S. Welborn Jr. Yet as the company recently sought to secure a pair of contracts with the United States Army, its plans were delayed for nearly a year as it tried and failed to persuade a bank to lend it $300,000.
This is an CNE pair of contracts as long as the total profits at each of the insurers offering (L_{oo}) is at least as large as the profits obtained by insurer 1.
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