evolutionary economics are presented andcompared. Attention is devoted, among others, to Darwinian selection,punctuated equilibrium … change, irreversible change, unpredictability, qualitativechange and disequilibrium, are examined. It is argued that there …

evolutionary economics are presented andcompared. Attention is devoted, among others, to Darwinian selection,punctuated equilibrium … change, irreversible change, unpredictability, qualitativechange and disequilibrium, are examined. It is argued that there …

well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …

, Slutsky's equations are derived. The different speeds of equilibrium adjustment in economic and climate models is reconciled … in the Recursive Equilibrium with Environmental Damages (REED). An exchange economy and Robinson Crusoe economy …

, Slutsky's equations are derived. The different speeds of equilibrium adjustment in economic and climate models is reconciled … in the Recursive Equilibrium with Environmental Damages (REED). An exchange economy and Robinson Crusoe economy …

In a standard general equilibrium model it is assumed that there are no price restictions and that prices adjust … infinitely fast to their equilibrium values. In this paper the set of admissible prices is allowed to be an arbitrary convex set …. For such an arbitrary set it cannot be guaranteed that there exists a constrained equilibrium satisfying the usual …

disequilibrium but little empirical research has examined firm entry and exit in this context. We redress this by modelling the … interrelationship between firm entry and exit in disequilibrium. Introducing a new methodology we investigate whether this … interrelationship differs between market ‘undershooting’ (the actual number of firms is below the equilibrium number) and ‘overshooting …

function of creating disequilibrium and the conventional equilibrating role of moving the industry to a new equilibrium. Second … long periods of disequilibrium after which a new equilibrium is attained. Moreover, we find ample support for the statement …This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics …

first show that two well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash … equilibrium, are special cases of our robustness concept. Further, a third special case of robustness refines the concept of … properness and a robust Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the …