Showing 1 - 10 of 18
This paper studies geometric properties of semi-algebraic economies with (eventually nonconvex) production - a class which includes linear or Cobb-Douglas preferences, polyhedric production sets and indivisible commodities as well. The main departure with the textbook differentiable viewpoint is...
Persistent link: https://www.econbiz.de/10005475298
This paper constructs two feasible strategic market games associated to an economy with infinite-dimensional trade space, finitely many traders, and finitely many firms, such that the set of outcomes induced by pure Nash equilibria coincides with the set of competitive equilibria. In both games,...
Persistent link: https://www.econbiz.de/10005475302
The general purpose of this paper is to prove quasiequilibrium existence theorems for production economies with general consumption sets in an infinite dimensional commodity space, without assuming any monotonicity of preferences or free-disposal in production.
Persistent link: https://www.econbiz.de/10005475329
This paper shows how to make hold the conjecture stated in Maskin an Tirole about the existence of a close connection between the finite, markovian stationary equilibria of a simple overlapping generations economy and the correlated equilibria of an associated finite exchange economy with...
Persistent link: https://www.econbiz.de/10005475338
On presente une maquette experimentale d'un modele statique d'equilibre general calculable qui constitue une application de la theorie developpee dans [9] conjuguant, avec un Tableau Economique d'Ensemble, la prise en compte du systeme productif, en termes d'analyse d'activite, de l'Etat - tant...
Persistent link: https://www.econbiz.de/10005663581
In an exchange economy with no aggregate uncertainty, and Bayesian agents, Pareto optimal allocations provide full insurance if and only if the agents have a common prior. It is hard to explain why there is relatively so little betting taking place. One is led to ask, when are full insurance...
Persistent link: https://www.econbiz.de/10005663592
In this paper, we show that the correspondence discovered by Koshevoy ([18]) and Johnson and Dean ([15],[16]) between anti-exchange closure operators and path independent choice operators is a duality between two semilattices of such operators. Then we use this duality to obtain results...
Persistent link: https://www.econbiz.de/10005663602
We present a fairly simple, feasible, price-quantity strategic market game for pure-exchange economies with finitely many agents, such that the set of pure Nash equilibrium outcomes coincides with the set of competitive equilibria. Our set-up encompasses incomplete, non-convex, non-transitive,...
Persistent link: https://www.econbiz.de/10005663630
In the first place, we present a quasi fixed-point theorem for a correspondence defined on some infinite-dimensional locally convex topological vector space such that some variables have open lower sections and the other ones are upper semicontinuous. In the second place, we propose a direct...
Persistent link: https://www.econbiz.de/10005776528
We present and prove the equality between the core and the set of Walras allocations for a pure exchange economy with l goods and a continuum of consumers, represented by an atomless measure space.
Persistent link: https://www.econbiz.de/10005776573