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the paper the equilibrium solutions of the model are derived. …
Persistent link: https://www.econbiz.de/10010294509
This paper develops a 2012 Social Accounting Matrix (SAM) for Bhutan with a detailed representation of the agricultural sector. Given the availability of extensive household, labour force and agricultural survey data as well as a large dataset of audited company reports, a bottom-up approach is...
Persistent link: https://www.econbiz.de/10011725375
We develop a method that allows one to compute incomplete-market equilibria routinely forMarkovian equilibria (when they exist). The main difficulty to be overcome arises from the setof state variables. There are, of course, exogenous state variables driving the economy but, in anincomplete...
Persistent link: https://www.econbiz.de/10005868691
broad class of random linear systems) decreases with increasing complexity, sparking a revolution in our understanding of … describe highlights in the development of our present understanding of stability and complexity in network systems, in order to …
Persistent link: https://www.econbiz.de/10012610199
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 …
Persistent link: https://www.econbiz.de/10013208631
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 …
Persistent link: https://www.econbiz.de/10013208645
exploiting variational methods, we show that the uniqueness, the comparative statics, and the approximation of a Nash equilibrium …
Persistent link: https://www.econbiz.de/10011816766
equilibrium price vector in a special case of the partnership formation problem. …
Persistent link: https://www.econbiz.de/10013208677
equilibrium of supply and demand. Assets pay dividends that are partially consumed and partially reinvested. The traders use fixed …
Persistent link: https://www.econbiz.de/10005858779
We present a model of firm investment under uncertainty and partial irreversibility in which uncertainty is represented by a jump diffusion. This allows to represent both the continuous Gaussian volatility and the discontinuous uncertainty related to information arrival, sudden changes and large...
Persistent link: https://www.econbiz.de/10012849793