Showing 1 - 10 of 2,381
This paper addresses partly an open question raised in the Handbook of Mathematical Economics about the orientability of the pseudo-equilibrium manifold in the basic two-period General Equilibrium with Incomplete Markets (GEI) model. For a broad class of explicit asset structures, it is proved...
Persistent link: https://www.econbiz.de/10011072967
This paper studies the existence of equilibrium solution concepts in a large class of economic models with discontinuous payoff functions. The issue is well understood for Nash equilibria, thanks to Reny's better-reply security condition ( Reny 1999) and its recent improvements (Barelli and...
Persistent link: https://www.econbiz.de/10012010064
Persistent link: https://www.econbiz.de/10003921604
Persistent link: https://www.econbiz.de/10012668178
Persistent link: https://www.econbiz.de/10012668211
This paper studies the existence of equilibrium solution concepts in a large class of economic models with discontinuous payoff functions. The issue is well understood for Nash equilibria, thanks to Reny’s better-reply security con- dition ( Reny 1999) and its recent improvements (Barelli and...
Persistent link: https://www.econbiz.de/10011704653
In this paper, we prove a fixed-point-like theorem for multi-valued mappings defined on the finite Cartesian product of Grassmannian manifolds and convex sets. Our result generalizes two different kinds of theorems : the fixed-point-like theorem by Hirsh, Magill, Mas-Colell (1990) or Husseiny,...
Persistent link: https://www.econbiz.de/10005220175
One answers to an open question of Herings et al. (2008), by proving that their fixed point theorem for discontinuous functions works for mappings defined on convex compact subset of $\R^n$, and not only polytopes. This fixed point theorem can be applied to the problem of Nash equilibrium...
Persistent link: https://www.econbiz.de/10009643775
Several relaxations of Nash equilibrium are shown to exist in strategic games with discontinuous payoff functions. Those relaxations are used to extend and unify several recent results and link Reny's better-reply security condition [Reny, P.J. (1999). On the existence of Pure and Mixed Strategy...
Persistent link: https://www.econbiz.de/10010555547
Focusing mainly on equilibrium existence results, this paper emphasizes the role of fixed point theorems in the development of general equilibrium theory, as well for its standard definition as for some of its extensions.
Persistent link: https://www.econbiz.de/10010603930