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Unlike the case of competitive equilibria for which there is the index theorem, almost nothing is known about multiple equilibria in Nash games. Multiple Nash equilibria are hard to find computationally accounting for spare prior literature discussion. Existing numerical literature on tariff...
Persistent link: https://www.econbiz.de/10010624326
We discuss a simple model of choices of joint consumption by a working couple who place maintenance of their marriage (relationship) above all else. Any proposal made by one partner seeking to provide maximal utility to the other so as to preserve the marriage, in the case where preferences of...
Persistent link: https://www.econbiz.de/10009213361
In this article, we present examples of tax-distorted general equilibrium economies in which equilibria are unique in the absence of taxes, but taxes generate multiplicity when introduced over a range of tax rates. We also provide converse examples of economies with multiple no-tax equilibria,...
Persistent link: https://www.econbiz.de/10009277398