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We study the welfare effects of different types of pre-arrangements (as identified in Sönmez in J Econ Theory 86:148–156, <CitationRef CitationID="CR25">1999</CitationRef>) under the intern-optimal and hospital-optimal stable mechanisms in matching markets. First, both mechanisms are manipulable via Type-2 pre-arrangements. Regarding...</citationref>
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We provide conditions for local stability and instability of an equilibrium point in certain systems of nonautonomous …
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It is known that when voluntary exchange is permitted at disequilibrium, dynamic stability may fail because of lack of … liquidity. In this paper it is shown that when the economy runs out of liquidity dynamic stability can still be restored by …
Persistent link: https://www.econbiz.de/10005147363
This paper provides a review of some results on the stability of random dynamical systems and indicates a number of …
Persistent link: https://www.econbiz.de/10005155392
We consider a non-cooperative assignment model where we show that any subgame perfect equilibrium is stable, and that an appropriate refinement criterion leads to the p-optimal outcome. We then consider a model with reneging and derive some interesting properties of this game. We show that in...
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This paper presents sufficient conditions for the existence of a unique and globally stable steady state equilibrium for OLG economies with production. The conditions impose separate requirements on the utility and production functions. Moreover, the conditions do not require assumptions...
Persistent link: https://www.econbiz.de/10005753417