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nondecreasing, twice differentiable cost of production (not necessarily convex). We extend previous literature on the existence of …
Persistent link: https://www.econbiz.de/10010784686
. Harris, Reny and Robson (1995) prove existence of a subgame perfect equilibrium as long as a public correlation device is … hemicontinuous. The present paper gives a short proof of existence that focuses on equilibrium payoffs rather than paths. …
Persistent link: https://www.econbiz.de/10010630122
The present paper provides a simple and complete proof of the existence of a stationary monetary equilibrium for a …
Persistent link: https://www.econbiz.de/10008828626
. Harris, Reny and Robson (1995) prove existence of a subgame perfect equilibrium as long as a public correlation device is … hemicontinuous. The present paper gives a short proof of existence that focuses on equilibrium payoffs rather than paths. …
Persistent link: https://www.econbiz.de/10005181992