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studies the properties of this set. The third paper proves, in the complete model, that the existence of a sequential …
Persistent link: https://www.econbiz.de/10010549105
Our earlier papers had extend to asymmetric information the classical existence theorems of general equilibrium theory … equilibrium prices belong to all agents expectations sets. We prove that the existence of a CFE is still characterized by the no … not affect the existence but only the value of equilibrium prices and allocations. …
Persistent link: https://www.econbiz.de/10010738445
Our earlier papers had extended to asymmetric information some classical existence theorems of general equilibrium … clear on all markets ex post. In an earlier model with finitely many expectations, we showed the existence of this so …
Persistent link: https://www.econbiz.de/10010738450
In this paper, we prove an existence theorem for approximated equilibria in a class of discontinuous economies. The … existence result is a direct consequence of a discontinuous extension of Brouwer's fixed point Theorem (1912), and is a …-product, we get the first existence proof of an approximated equilibrium in the GEI model, without perturbing the asset structure …
Persistent link: https://www.econbiz.de/10010750360
Our earlier papers [2,3,4,5,6] had extended to asymmetric information the classical existence theorems of general … existence of such equilibrium is still characterized by the no-arbitrage condition of finance. This result, which extends our … earlier theorems, shows that private information and uncertain anticipations would not affect existence but the value of …
Persistent link: https://www.econbiz.de/10010750733
). This result suggests that standard existence problems of sequential equilibrium models, following Hart (1975), stem form …
Persistent link: https://www.econbiz.de/10010635134
We provide existence results in a game with local spillovers where the payoff function satisfies both convexity and the … which ensures the existence of pairwise equilibrium networks. Moreover, our existence proof allows us to characterize a …
Persistent link: https://www.econbiz.de/10008866171
general existence result of equilibria for such a financial exchange economy in which portfolios are defined by linear … constraints, extending the framework of linear equality constraints by Balasko et al. (1990) and the existence results in the …
Persistent link: https://www.econbiz.de/10010738451
This paper deals with the existence of marginal pricing equilibria when it is defined by using a new and tighter normal … difficulties in the existence proof. The result is obtained through an approximation argument under the same assumptions as in the … previous existence results. …
Persistent link: https://www.econbiz.de/10010750782
In a recent but well known paper, Reny has proved the existence of Nash equilibria for compact and quasiconcave games … the analysis of equilibrium existence …
Persistent link: https://www.econbiz.de/10010751013