In this note, we introduce conjectural variations in a simple general oligopoly equilibrium model of a pure exchange economy. Three results are obtained. First, the price and utility levels generally increase with the value taken by conjectures. Second, when the conjectural variation takes its...

This paper studies the way market power operates under symmetric oligopoly equilibrium. Stressing the role of preferences and focusing on price manipulation, four results are obtained about asymptotic identifications (for degenerate preferences and large economies) and about welfare configurations.

In this note, we address the problem of determining which conjectural variations general equilibria are consistent in strategic multilateral exchange. We therefore consider expectations in a simple conjectural general equilibrium model of a pure exchange economy under strategic interactions....

In this note we consider a general equilibrium model with oligopolistic competition between firms who ignore the feedback effect of their dividend payments on demand. The outcome of this competition coincides with the perfectly competitive equilibrium solution, provided that firms have identical...

In this note, we introduce conjectural variations in a simple general oligopoly equilibrium model of a pure exchange economy. Three results are obtained. First, the price and utility levels generally increase with the value taken by conjectures. Second, when the conjectural variation takes its...

We study multiunit uniform price auctions where the seller is allowed to decrease the quantity supplied in order to maximize his profit. We show that he never chooses to do so in equilibrium. However, the existence of this option eliminates such equilibria where objects for sale are sold for too...

It is shown that a Walrasian price adjustment process fails to converge to an equilibrium in an exchange economy with three consumers and three commodities, where each consumer has a quasilinear utility function, desires only two commodities, and demands positive amounts of both commodities. The...

Gintis (2007, 'The Dynamics of General Equilibrium'', Economic Journal 117 (523) , 1280–1309) provides an agent-based model of a Walrasian economy where the tâtonnement is replaced by imitation. His simulations show that the economy converges to the Walrasian equilibrium. Gintis concludes...

In the framework of economics models with unbounded short sales a number of different conditions limiting arbitrage opportunities have been introduced. Dana, Le Van and Magnien [JET.87(1999)169] appeal to the condition of compactness of the individually rational utility set and show that all...

This paper extends the solution space for decision theory by introducing a behavioural operator that (1) transforms probability domains, and (2) generates sample paths for confidence from catalytic fuzzy or ambiguous sources. First, we prove that average sample paths for confidence/sentiment,...