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Rationalizability in games with a continuum of players

Jara-Moroni, Pedro - HAL - 2008

The concept of Rationalizability has been used in the last fifteen years to study stability of equilibria on models with continuum of players such as standard competitive markets, macroeconomic dynamics and currency attacks. However, Rationalizability has been formally defined in a general...

Persistent link: https://www.econbiz.de/10010739044

Expectational coordination in a class of economic models: Strategic substitutabilities versus strategic complementarities

Guesnerie, Roger; Jara-Moroni, Pedro - HAL - 2007

We consider an economic model that features: 1. a continuum of agents 2. an aggregate state of the world over which agents have an infinitesimal influence. We first propose a review, based on work by Jara (2007), of the connections between the eductive viewpoint that puts emphasis on Strongly...

Persistent link: https://www.econbiz.de/10010738797

Expectational coordination in simple economic contexts: concepts and analysis with emphasis on strategic substitutabilities.

Guesnerie, Roger; Jara-Moroni, Pedro - HAL - 2009

assumptions, the Poincaré-Hopf method leads to global results for strong rationality of equilibrium. At the local level, the …

Persistent link: https://www.econbiz.de/10010739080

Expectational coordination failures and Market outcomes' volatility

Guesnerie, Roger - HAL - 2011

The first part of this text reviews the standard economic viewpoint on expectational coordination, a viewpoint that the recent events have challenged. The second part reviews different existing directions assessments of the rational expectations hypothesis that have been made to-date. The third...

Persistent link: https://www.econbiz.de/10010738768

Macroeconomic and monetary policies from the "eductive" viewpoint

Guesnerie, Roger - HAL - 2008

The "eductive" viewpoint provides a theoretically sophisticated analysis as well as an intuitively plausible shortcut to the study of expectational coordination in economic models. From the review of expectational criteria in a class of dynamical models of macroeconomic theory, the paper shows...

Persistent link: https://www.econbiz.de/10010739013

Hotelling Games on Networks: Efficiency of Equilibria

Fournier, Gaëtan; Scarsini, Marco - HAL - 2014

We consider a Hotelling game where a finite number of retailers choose a location, given that their potential customers are distributed on a network. Retailers do not compete on price but only on location, therefore each consumer shops at the closest store. We show that when the number of...

Persistent link: https://www.econbiz.de/10011025947

Effect of Uncertainty about Others' Rationality in Experimental Asset Markets: An Experimental Analysis

Akiyama, Eizo; Hanaki, Nobuyuki; Ishikawa, Ryuichiro - HAL - 2012

the uncertainty of subjects regarding others' rationality. We do so by comparing the price forecasts submitted by subjects … hypothesis that uncertainty about others' rationality plays a major role in causing substantial deviation of forecast prices from …

Persistent link: https://www.econbiz.de/10010933826

The World According to GARP* : Non-parametric Tests of Demand Theory and Rational Behavior

Diaye, Marc-Arthur; Gardes, François; Starzec, Christophe - HAL - 2008

The purpose of this paper is twofold. We first point out that violation of rationality axioms (SARP, GARP, WARP) do not …

Persistent link: https://www.econbiz.de/10009643767

The rationality of expectations formation and excess volatility

Davila, Julio - HAL - 2008

I establish, in simple deterministic overlapping generations economies, that if each agent holds rationally formed expectations in the sense that any other expectations justifying his choices imply a smaller likelihood for the history he observes with limited memory, then there are rationally...

Persistent link: https://www.econbiz.de/10010750627

Learning, Rationality and Identity Building

Cayla, David - HAL - 2008

This paper focuses on the link between the economic conceptions of rationality and learning. Traditionally, most … is not the process of learning, but the result of learning: ‘a fully rational agent'. Heterodox rationality conceptions … such as the Simonian model of bounded rationality seem more compatible with the idea of learning. Bounded rationality …

Persistent link: https://www.econbiz.de/10010751001