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Coalition formation under power relations

Razin, Ronny; Piccione, Michele - In: Theoretical Economics 4 (2009) 1, pp. 1-15

We analyze the structure of a society driven by power relations. Our model has an exogenous power relation over the set of coalitions of agents. Agents determine the social order by forming coalitions. The power relations determine the ranking of agents in society for any social order. We study...

Persistent link: https://www.econbiz.de/10011599413

Coalition formation under power relations

Razin, Ronny; Piccione, Michele - In: Theoretical Economics 4 (2009) 1

Persistent link: https://www.econbiz.de/10005812745

Modeling infinitely many agents

He, Wei; Sun, Xiang; Sun, Yeneng - In: Theoretical Economics 12 (2017) 2, pp. 771-815

This paper offers a resolution to an extensively studied question in theoretical economics: which measure spaces are suitable for modeling many economic agents? We propose the condition of 'nowhere equivalence' to characterize those measure spaces that can be effectively used to model the space...

Persistent link: https://www.econbiz.de/10012010084

Maximal revenue with multiple goods: nonmonotonicity and other observations

Reny, Philip J.; Hart, Sergiu - In: Theoretical Economics 10 (2015) 3, pp. 893-922

Consider the problem of maximizing the revenue from selling a number of goods to a single buyer. We show that, unlike the case of one good, when the buyer's values for the goods increase the seller's maximal revenue may well decrease. We then identify two circumstances where monotonicity does...

Persistent link: https://www.econbiz.de/10011599558

Protocol invariance and the timing of decisions in dynamic games

Doraszelski, Ulrich; Escobar, Juan F. - In: Theoretical Economics 14 (2019) 2, pp. 597-646

We characterize a class of dynamic stochastic games that we call separable dynamic games with noisy transitions and establish that these widely used models are protocol invariant provided that periods are sufficiently short. Protocol invariance means that the set of Markov perfect equilibria is...

Persistent link: https://www.econbiz.de/10012215326

Maximal revenue with multiple goods: nonmonotonicity and other observations

Reny, Philip J.; Hart, Sergiu - In: Theoretical Economics (2014)

Persistent link: https://www.econbiz.de/10010940429

Sufficient conditions for stable equilibria

Wilson, Robert B.; Govindan, Srihari - In: Theoretical Economics 1 (2006) 2, pp. 167-206

A refinement of the set of Nash equilibria that satisfies two assumptions is shown to select a subset that is stable in the sense defined by Kohlberg and Mertens. One assumption requires that a selected set is invariant to adjoining redundant strategies and the other is a strong version of...

Persistent link: https://www.econbiz.de/10011599369

Robust stability in matching markets

Kojima, Fuhito - In: Theoretical Economics 6 (2011) 2, pp. 257-267

In a matching problem between students and schools, a mechanism is said to be robustly stable if it is stable, strategy-proof, and immune to a combined manipulation, where a student first misreports her preferences and then blocks the matching that is produced by the mechanism. We find that even...

Persistent link: https://www.econbiz.de/10011599445

Designing stable mechanisms for economic environments

Healy, Paul J.; Mathevet, Laurent - In: Theoretical Economics 7 (2012) 3, pp. 609-661

dynamically stable for a wide class of adaptive dynamics. We argue that supermodularity is not a desirable stability criterion in … stability while gaining budget balance out of equilibrium. …

Persistent link: https://www.econbiz.de/10011599472

Stochastic stability in monotone economies

Stachurski, John; Kamihigashi, Takashi - In: Theoretical Economics 9 (2014) 2, pp. 383-407

This paper extends a family of well-known stability theorems for monotone economies to a significantly larger class of … models. We provide a set of general conditions for existence, uniqueness and stability of stationary distributions when … monotonicity holds. The conditions in our main result are both necessary and sufficient for global stability of monotone economies …

Persistent link: https://www.econbiz.de/10011599516