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Constant Returns to Scale: Can the Neoclassical Economy Exist?
Alam, M. Shahid - Volkswirtschaftliche Fakultät, … - 2013
Constant returns to scale (CRS) is one of the corner-stones of the competitive general equilibrium paradigm of neoclassical economics. This note argues that the equilibrium solutions of this paradigm are not compatible with CRS. CRS implies that all producers (whatever their scale of production)...
Persistent link: https://www.econbiz.de/10011108250
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Multiagent negotiation for fair and unbiased resource allocation
Iyer, Karthik; Huhns, Michael - Volkswirtschaftliche Fakultät, … - 2005
This paper proposes a novel solution for the n agent cake cutting (resource allocation) problem. We propose a negotiation protocol for dividing a resource among n agents and then provide an algorithm for allotting portions of the resource. We prove that this protocol can enable distribution of...
Persistent link: https://www.econbiz.de/10005789916
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Multiple Solutions in Systems of Functional Differential Equations
d'Albis, Hippolyte; Augeraud-Véron, Emmanuelle; … - Volkswirtschaftliche Fakultät, … - 2014
This paper proposes conditions for the existence and uniqueness of solutions to systems of linear differential or …
Persistent link: https://www.econbiz.de/10011107980
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Existence of Equilibria in Discontinuous Games
Nessah, Rabia; Tian, Guoqiang - Volkswirtschaftliche Fakultät, … - 2008
This paper investigates the existence of pure strategy, dominant strategy, and mixed strategy Nash equilibria in … quasiconcavity introduced in the paper, is enough to guarantee the existence of Nash equilibria in compact and convex normal form … show the existence of dominant strategy and mixed strategy Nash equilibria in discontinuous games. …
Persistent link: https://www.econbiz.de/10011112019
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The Maximum Theorem and the Existence of Nash Equilibrium of (Generalized) Games without Lower Semicontinuities
Tian, Guoqiang; Zhou, Jianxin - Volkswirtschaftliche Fakultät, … - 1990
existence of equilibrium for the generalized games (the so-called abstract economics) and Nash equilibrium for games where the … payoff functions and the feasible strategy correspondences are not lowersemicontinuous. Thus the existence theorems given in … this paper generalize many existence theorems on Nash equilibrium and equilibrium for the generalized games in the …
Persistent link: https://www.econbiz.de/10011113505
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Subscription equilibria with public production: Existence and regularity
Villanacci, Antonio; Zenginobuz, Unal - Volkswirtschaftliche Fakultät, … - 2005
financed by voluntary contributions (subscriptions) of households. We prove existence and generic regularity of subscription …
Persistent link: https://www.econbiz.de/10005619815
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On the Single-Valuedness of the Pre-Kernel
Meinhardt, Holger Ingmar - Volkswirtschaftliche Fakultät, … - 2014
Based on results given in the recent book by Meinhardt (2013), which presents a dual characterization of the pre-kernel by a finite union of solution sets of a family of quadratic and convex objective functions, we could derive some results related to the uniqueness of the pre-kernel. Rather...
Persistent link: https://www.econbiz.de/10011111618
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Strategic information transmission and stochastic orders
Szalay, Dezsö - Volkswirtschaftliche Fakultät, … - 2012
I develop new results on uniqueness and comparative statics of equilibria in the Crawford and Sobel (1982) strategic information transmission game. For a class of utility functions, I demonstrate that logconcavity of the density implies uniqueness of equilibria inducing a given number of...
Persistent link: https://www.econbiz.de/10010570876
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Why the determinacy condition is a weak criterion in rational expectations models
Mostafavi, Moeen; Shakouri G., Hamed; Fatehi, Ali-Reza - Volkswirtschaftliche Fakultät, … - 2010
This paper disputes what Blanchard and Kahn have reported as the solution of linear rational expectation(RE) systems many years ago. Their method leads to traditional determinacy condition which is used very much nowadays. In this paper we have a new look to the mathematical procedure of this...
Persistent link: https://www.econbiz.de/10008805469
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Is Chinese variety of capitalism really unique?
Popov, Vladimir - Volkswirtschaftliche Fakultät, … - 2010
The formal comparison of similarities and differences of Chinese and Western economic models misses the most important point. The uniqueness of China is that it looks very much like a developed country today in terms of institutional capacity of the state, even though it is a developing country...
Persistent link: https://www.econbiz.de/10008805844