In this paper I prove that a quasiconcave separable utility function defined on an atomless space is concave.

We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments.

In this paper, we revisit the issue of bank fragility in the Diamond and Dybvig (J Polit Econ 91:401–419, <CitationRef CitationID="CR5">1983</CitationRef>) model with sequential service and finite traders. We provide a precise condition under which banks are susceptible to a run when the return on investment is low, and we show that...</citationref>

In this work, we clarify the relationship between the information that an agent receives from a signal, from an experiment or from his own ability to determine the true state of nature that occurs and the information that an agent receives from a <InlineEquation ID="IEq4"> <EquationSource Format="TEX">$$\sigma $$</EquationSource> </InlineEquation>-algebra. We show that, for...</equationsource></inlineequation>

We consider exchange economies with a measure space of agents and for which the commodity space is a separable and reflexive Banach lattice. Under assumptions imposing uniform bounds on marginal rates of substitution, positive results on core-Walras equivalence were established in...

We model a buyer who wishes to combine objects owned by two separate sellers in order to realize higher value. Sellers are able to avoid entering into negotiations with the buyer, so that the order in which they negotiate is endogenous. Holdout occurs if at least one of the sellers is not...

We examine a problem with n players each facing the same binary choice. One choice is superior to the other. The simple assumption of competition - that an individual’s payoff falls with a rise in the number of players making the same choice, guarantees the existence of a unique symmetric...