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We present mathematical results allowing one to evaluate the moments of order 1 and 2 of the cedent's share in the framework of reinsurance treaties based on ordered claimsizes. These results consist of closed analytical formulas that do not involve any approximation procedure. This is...
Persistent link: https://www.econbiz.de/10010707051
In this article, we present a reference case of mean field games. This case can be seen as a reference for two main reasons. First, the case is simple enough to allow for explicit resolution: Bellman functions are quadratic, stationary measures are normal and stability can be dealt with...
Persistent link: https://www.econbiz.de/10010707908
Various notions of tightness for measurable multifunctions are introduced and compared. They are used to derive results on the existence of integrable selections for the sequential weak upper limit of a sequence of multifunctions. Similar questions are examined for multifunctions with values in...
Persistent link: https://www.econbiz.de/10010708201
WTO, OECD with many others, suggest the trade in value-added would be a “better” measure to understand the impact of trade on employment, growth, production etc. when import content in exports is important. We use in this work an Input-Output table for 2008, to calculate the value-added...
Persistent link: https://www.econbiz.de/10011074310
over consumption goods, competitive equilibrium allocations exist and belong to the (ex ante incentive) core. Furthermore …, any competitive equilibrium allocation can be viewed as an element of the core of the n-fold replicated economy, for every …
Persistent link: https://www.econbiz.de/10010706418
incentive compatibility constraints : the associated ex ante core is generically nonempty. However, we exhibit a well …–behaved exchange economy in which this core is empty, even if goods are allocated through random mechanisms. …
Persistent link: https://www.econbiz.de/10010707133
This paper characterizes the core of a differentiable convex distortion of a probability measure on a nonatomic space … dominance. The densities that have the same distribution as the derivative of the distortion are the extreme points of the core …
Persistent link: https://www.econbiz.de/10010707781
We identify particular exchange economies with asymmetric information in which the ex ante incentive compatible core is … restriction to a specific class of economies are crucial for the result. Indeed, the ex ante incentive compatible core can be …
Persistent link: https://www.econbiz.de/10010708570
In a commonvalueauction in which the information partitions of the bidders are connected, all rings are core … form, in spite of the underlying strategic externalities. A ring is core-stable if the core of this characteristic function … core-stable. …
Persistent link: https://www.econbiz.de/10010708636
) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable …
Persistent link: https://www.econbiz.de/10010708853