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preferences, using data from the five waves of the European Social Survey (2002- 2010). In addition to standard socioeconomic … preferences. Besides, media exposure appears as a key determinant of beliefs: individuals spending more time to get informed on …
Persistent link: https://www.econbiz.de/10010708625
Motivated by a mean field games stylized model for the choice of technologies (with externalities and economy of scale …
Persistent link: https://www.econbiz.de/10010708940
unbounded below under the assumption that agents have incomplete preferences. Our model is motivated by an example in the theory … of assets with short-selling where there is risk and ambiguity. Agents have Bewley’s incomplete preferences. As an … more likely is an equilibrium to exist. The paper then turns to incomplete preferences represented by a family of concave …
Persistent link: https://www.econbiz.de/10010799311
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...
Persistent link: https://www.econbiz.de/10010706476
We are given a list of tasks Z and a population divided into several groups X j of equal size. Performing one task z requires constituting a team with exactly one member x j from every group. There is a cost (or reward) for participation: if type x j chooses task z, he receives p j (z);...
Persistent link: https://www.econbiz.de/10010706644
We study incentive-compatible labor contracts in the case where both individual productivity and subjective discount rate are unobservable by the rm. We rst show that unidimensional manifolds of agents group on the same contract. High , low agents may choose the same contract as low , high...
Persistent link: https://www.econbiz.de/10010706876
In this paper we prove the existence of general equilibrium with transaction costs generalizing Hahn's (Review of Economic Studies, 1973, 40, 449-461) model by introducing producers and nonconvexities (in particular we allow for increasing returns in transaction sets). We also recover any...
Persistent link: https://www.econbiz.de/10010707098
The overlapping expectations and the collective absence of arbitrage conditions introduced in the economic literature to insure existence of Pareto optima and equilibria with short-selling when investors have a single belief about future returns, is reconsidered. Investors use measures of risk....
Persistent link: https://www.econbiz.de/10010707106
Persistent link: https://www.econbiz.de/10010707272
This paper shows topological properties of the graph of the Walras correspondence such as connectedness and simple connectedness for economies with production.
Persistent link: https://www.econbiz.de/10010707679