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 …

productivity data. This paper examines the long run, or the equilibrium, relationship between productivity and stock returns for … the 1951-2002 period. It introduces the notion of equilibrium as represented by the co-movements of economic variables in … the long run. This notion is viewed to be broader than the economic theory definition of equilibrium that usually means …

-run equilibrium in the Asia-Pacific economies as being 5 years. The methodology is used to group countries with high-trade intensity … the long-run equilibrium, we believe, helps in some ways to enrich the literature on the exchange rate behaviour of an …

-employment contract. In a partial equilibrium context, the authors show that when boat owners and crew members are risk-averse, crop … contract. Industry effects and steady-state resource growth limitations are introduced into a market equilibrium model. In this …

, can find their way to supply/demand equilibrium. A multi-agent model was used to simulate the evolution of autonomously …. During the learning process, markets may lack a true equilibrium price, and therefore sellers in such a model cannot be price …. Under perfect competition, sellers' asking prices converged onto the theoretical equilibrium price. This performance was …