This paper generalizes the Theorem of the Maximum (Berge, 1963) to allow for discontinuous changes in the domain and the objective function. It also provides a geometrical version of the (generalized) theorem.

We introduce a new notion of rational expectations equilibrium (REE) called maximin rational expectations equilibrium (MREE), which is based on the maximin expected utility (MEU) formulation. In particular, agents maximize maximin expected utility conditioned on their own private information and...

Forecasting electricity demand for future years is an essential step in resource planning. A common approach is for the system operator to predict future demand from the estimates of individual distribution companies. However, the predictions thus obtained may be of poor quality, since the...