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cases where additionally, some variables may be strategic complements. The main result here is that the equilibrium set in … such models is a non-empty, complete lattice, if, and only if, there is a unique equilibrium. Indeed, for a given parameter … techniques for exhibiting increasing equilibria or computing equilibria that use the largest or smallest equilibrium, or that use …
Persistent link: https://www.econbiz.de/10012824357
), Warsaw, September 2004. The Nash equilibrium approach to solving nonzero-sum stopping games may give multiple solutions. An …' decisions. This is a form of equilibrium selection. Examples of correlated equilibria in nonzero-sum games related to the staff …
Persistent link: https://www.econbiz.de/10008561152
. Although our class of continuous-space model has a unique equilibrium, we find that discretized models can have multiple … properties of a potential game. Although the equilibrium population distribution in the continuous space is uniquely given by a … equilibrium as the discretization is refined. …
Persistent link: https://www.econbiz.de/10011118534
, we characterize equilibrium and optimal distributions of work start times. We also show that Pigouvian tax …/subsidy policies generally yield multiple equilibria and that the first-best optimum must be a stable equilibrium under Pigouvian …
Persistent link: https://www.econbiz.de/10011112352
externalities and in improving social welfare in a small developing economy. A two-sector, full-employment general equilibrium model …
Persistent link: https://www.econbiz.de/10011212786
The paper purports to examine the rationale in subsidizing healthcare in the developing economies solely from the standpoint of economic growth with the help of a three-sector, full-employment small economy model with exogenous labour market imperfection and a non-traded sector providing...
Persistent link: https://www.econbiz.de/10011271333
the risk aversion is generally necessary to guarantee existence of an equilibrium in the CAPM with one risk-free asset … existence result is formulated which allows for the case in which in equilibrium not all investors participate in the market for …
Persistent link: https://www.econbiz.de/10005260078
conditions for unique solutions to systems of simultaneous equations and for unique market equilibrium. Under standard … desirability conditions, it is shown that a competitive market has a unique equilibrium if its reduced excess demand has a … nonvanishing Jacobian ensures the existence of a unique equilibrium in finite or infinite dimensions, even when the excess demand …
Persistent link: https://www.econbiz.de/10005619308
Presented is a mathematical model of single-product economy where credit expansion is used to increase the demand for product. Explored is the dynamics of affected product’s price, supply and demand. Shown is that expansion of the demand carries a temporal character.
Persistent link: https://www.econbiz.de/10011275125
existence of equilibrium in a simple exchange model with monotonic consumers. To achieve this end, we discuss some equivalent …
Persistent link: https://www.econbiz.de/10011258642