explicitly, on a market equilibrium framework or provide no framework at all. This paper offers a working alternative that relies …, not on a market equilibrium framework, but rather on a stock-flow equilibrium framework. In doing so, we lay out a … financialized - and which does not require that prices inevitably tend toward some prespecified market equilibrium. …

the process of structural transformation. Based on a stylized, multi-sector equilibrium model, we illustrate that the …

favourable for the long-living individuals, represent an equilibrium. …

the annuity market. First, we examine the pooling equilibrium for individual-life annuities and show that in the presence … equilibrium may exist. These results are obtained in a framework where couples are mandated to buy joint-life annuities and only …- and joint-life annuities, we find that in equilibrium couples with long-lived partners buy individual-life annuities …

equilibrium, and prove existence. We show how equilibria are extended naturally from lower to higher awareness levels and …

equilibrium, which may or may not exist, no agents have incentives to break up or form new partnerships. This paper proposes a … dynamic competitive adjustment process that always either finds an equilibrium or exclusively disproves the existence of any … equilibrium in finitely many steps. When an equilibrium exists, partnership and revenue distribution will be automatically and …

sufficient condition for the existence of equilibrium, generalizing known results. We then introduce the partnership …-stable equilibrium, a weakened solution concept in the sense that each equilibrium is also a partnership-stable equilibrium, and find …