not increase any more and demand reduce. It is difficult to forecast the start of the collapse and the length of the cycle … which are important for real estate cycle like inflation, interest and mortgage rate, GDP, investment flows, rent and …

An abundant literature is concerned with the existence of equilibrium in incomplete markets where participation to … convex subsets of the portfolio space. Our contribution to the literature on general equilibrium of financial markets is …

approximate perfect Bayesian equilibrium for sequential auctions with discrete bids and incomplete information. It also utilizes … provides theoretical results especially the non-existence of pure-strategy symmetric equilibrium in both the symmetric …

or are far away from the transactions band, a faster adjustment to the long run equilibrium is observed in part due to …

-stage games, sequential equilibrium, trembling-hand perfection, stability, signaling games, theory of auctions, global games …

), and Vickrey auctions, a Bayesian Nash equilibrium exists in monotone pure strategies whenever there is a finite price … paper also provides the first proof of pure strategy equilibrium existence in the uniform-price auction when bidders have …

equilibrium are examined for first and second price auctions in situations where bidders have different, uncertain, costs. This is … mark-ups applied systematically for each bidder in turn until equilibrium is reached. An extensive numerical analysis is … then applied to obtain equilibrium results for both mark-up values and expected profit from the simple symmetric case …