Showing 1 - 10 of 24
existence of an equilibrium under assumptions, which are at the same level of generality than the ones for the existence in an …
Persistent link: https://www.econbiz.de/10009645283
We consider a pure exchange overlapping generations economy with finitely many commodities and consumers per period having possibly non-complete non transitive preferences. We provide a geometric and direct proof of the Balasko-Shell characterization of Pareto optimal allocation. To avoid some...
Persistent link: https://www.econbiz.de/10011194459
enjoyable properties: odd finite number of equilibrium prices, local constancy of this number and local differentiable … selections of the equilibrium prices. Thus, even if ambiguity aversion is represented by non-differentiable multiprior …
Persistent link: https://www.econbiz.de/10010727907
transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff … vectors satisfying this condition. The additional requirement of transfer rate equilibrium refines the core concept and allows … new setting and its associated equilibrium–core solution extend the usual cooperative game framework and core solution to …
Persistent link: https://www.econbiz.de/10010905386
We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called possibility function. Utility and possibility functions depend on the consumptions of all households....
Persistent link: https://www.econbiz.de/10005041114
We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called possibility function. Utility and possibility functions depend on the consumptions of all households....
Persistent link: https://www.econbiz.de/10005839188
In the spirit of Smale's work, we consider pure exchange economies with general consumption sets. In this paper, the consumption set of each household is described in terms of a function called possibility function. The main innovation comes from the dependency of each possibility function with...
Persistent link: https://www.econbiz.de/10005797764
transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff … vectors satisfying this condition. The additional requirement of transfer rate equilibrium refines the core concept and allows … new setting and its associated equilibrium–core solution extend the usual cooperative game framework and core solution to …
Persistent link: https://www.econbiz.de/10008532573
constraints. So the equilibrium consumptions are close to the initial endowments. We prove that the local equilibrium is always … converge to the equilibrium of the linear tangent economy when the sale constraints converge to zero. …
Persistent link: https://www.econbiz.de/10004988954
transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff … vectors satisfying this condition. The additional requirement of transfer rate equilibrium refines the core concept and allows … setting and its associated equilibrium-core solution extend the usual cooperative game framework and core solution to …
Persistent link: https://www.econbiz.de/10005168434