Showing 1 - 9 of 9
Incomplete information games, local interaction games and random matching games are all special cases of a general class of interaction games (Morris (1997)). In this paper, we use this equivalence to present a unified treatment of arguments generating uniqueness in games with strategic...
Persistent link: https://www.econbiz.de/10005762837
We present two arguments, one based on index theory, demonstrating that the multi-country Ricardo model has a unique competitive equilibrium if the aggregate demand functions exhibit gross substitutability. The result is somewhat surprising because the assumption of gross substitutability is...
Persistent link: https://www.econbiz.de/10005593168
We consider an single object auction environment with interdependent valuations and a generalized Vickrey-Clark-Groves allocation mechanism that allocates the object almost efficiently in a strict ex post equilibrium. If there is a significant amount of interdependence, there are multiple...
Persistent link: https://www.econbiz.de/10005463846
do not depend on the existence of a common prior. In contrast, with strategic substitutes, the implementation conditions …
Persistent link: https://www.econbiz.de/10004990820
We consider the problem of estimating the conditional distribution of a post-model-selection estimator where the conditioning is on the selected model. The notion of a post-model-selection estimator here refers to the combined procedure resulting from first selecting a model (e.g., by a model...
Persistent link: https://www.econbiz.de/10005593431
, defined as the composition of the investor's attitudes for risk and her attitudes for ambiguity. Bulls and bears are defined …
Persistent link: https://www.econbiz.de/10010895651
Observability of an individual's excess demand function for assets and commodities as all prices and revenue vary suffices in order to recover his von Neumann-Morgenstern utility function. This is generically the case, even when the asset market is incomplete and the cardinal utility indices...
Persistent link: https://www.econbiz.de/10005634725
-span. Conditions concerning birth, death, inheritance and bequests are fully specified. Under such conditions, the existence of …
Persistent link: https://www.econbiz.de/10004990769
We describe conditions for the existence of a stationary Markovian equilibrium when total production or total endowment …
Persistent link: https://www.econbiz.de/10005087407