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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
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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
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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
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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
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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
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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
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Rationality, behavior, institutional and economic change in Schumpeter
Festré, Agnès; Garrouste, Pierre - HAL - 2008
In 1940 Schumpeter wrote a paper entitled: "The Meaning of Rationality in the Social Sciences", which was intended to …, that he took the initiative to start. In this paper Schumpeter develops thoroughly his own conception of rationality in … indeed interestingly anticipates some important debates concerning the problem of rationality and behavior in economics and …
Persistent link: https://www.econbiz.de/10010738554
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On Apparent Irrational Behaviors : Interacting Structures and the Mind
Gosselin, Pierre; Lotz, Aïleen; Wambst, Marc - HAL - 2013
We develop a general method to solve models of interactions between multiple and possibly strategic agents. Our model explains apparently irrational or biased behaviors in a person. We argue that these actions could result from several rational structures having different goals. Our main example...
Persistent link: https://www.econbiz.de/10010899628
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La croissance économique au passé, au présent, à l'avenir
Bienaymé, Alain - HAL - 2014
After a few centuries of speeding up, the distribution of GNP's growth rates has widely changed all round the world. Growth is slowing down in advanced countries and has accelerated in emerging countries. Moreover growth is questioned as a matter of principle. Considering the vast array of...
Persistent link: https://www.econbiz.de/10010899774
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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