Comparing the convergence of a Walrasian price adjustment process and that of a Marshallian quantity adjustment process in a multiple market setting, we show that both mechanisms are locally stable for any adjustment speeds if the demand system is characterised by a negative dominant diagonal.

Comparing the convergence of a Walrasian price adjustment process and that of a Marshallian quantity adjustment process in a multiple market setting, we show that both mechanisms are locally stable for any adjustment speeds if the demand system is characterised by a negative dominant diagonal.

We try to show that the use of alternating decision making in an infinitely repeated prisoners' dilemma type game may enable sophisticated players to achieve perpetual cooperation starting from any initial position and without any prior communication, and that the ability of players to do so...

We try to show that the use of alternating decision making in an infinitely repeated prisoners' dilemma type game may enable sophisticated players to achieve perpetual cooperation starting from any initial position and without any prior communication, and that the ability of players to do so...