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In this survey article, we report results on the existence of pure-strategy Nash equilibria in games with an atomless …
Persistent link: https://www.econbiz.de/10005776497
elements is deduced and is applied to prove the existence of equilibrium for qualitative games with an infinite number of … agents. The last result is used to establish the existence of equilibrium in generalized games (or abstract economies) with a …
Persistent link: https://www.econbiz.de/10005776505
Persistent link: https://www.econbiz.de/10005776506
The core of an economy consists of those states of the economy which no group of agents (coalition) can "improve upon". A coalition can improve upon a state of the economy if, by using the means available to that group, each member can be made better off. This paper presents the notion of the...
Persistent link: https://www.econbiz.de/10005776554
The aim of this paper is to present Arrow's theorem and more generally the common framework of many results which can be called "Arrovian theorems". One begins by recalling the Condorcet majority rules, and why they fail: the "effet Condorcet". These rules are examples of preference aggregation...
Persistent link: https://www.econbiz.de/10005776568
consequences are also derived for strategic market games. …
Persistent link: https://www.econbiz.de/10005475298
We investigate properties of correlated equilibria in competitive, pure-exchange market games. We prove that: 1) the …
Persistent link: https://www.econbiz.de/10005475300
This paper constructs two feasible strategic market games associated to an economy with infinite-dimensional trade … coincides with the set of competitive equilibria. In both games, consumers may go bankrupt out of equilibrium, punishment rules …
Persistent link: https://www.econbiz.de/10005475302
We consider repeated games of complete information and imperfect monitoring, where the observation structure is given … contexts of correlated equilibrium, sequential equilibrium and finitely repeated games. …
Persistent link: https://www.econbiz.de/10005475326
This paper adapts the methods of Minimax-Hedging developped in Bernis & Giraud [2000] to other models of financial markets, including discontinuous semi-martingale. The measure of the risk is defined as the value of a zero-sum game between the investor and a fictitious player, representing the...
Persistent link: https://www.econbiz.de/10005663603