... if they resort to their zero strategy. Market economy Returns Game theory Time series analysis Producers Speculators Zero strategy Memory Volatility clustering Fat tails Financial markets are characterized by complex dynamics arising from the interaction of a large number of decision makers...

... such as robust optimization (Kouvelis and Yu, 1997 ; Ben‐Tal et al., 2006). It is a specialversion of the maximin paradigm of game theory (von Neumann and Morgenstern, 1944) where nature is assigned the role of one of the players. For all its prominence and widespread use in decision theory...

... the numbers of primary insurers and reinsurers existing in a range of 18‐20 different national insurance markets over a period of 11 years. © Emerald Group Publishing Limited 2005 Reinsurance Game theory Insurance Using a game‐theoretic model of insurance markets, Powers and Shubik...