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A fresh wave of globalisation since the early 1990s has created both hope and despair. Failure of state has reaffirmed faith in market based institutions. Expansion in trade across national borders and opening the national markets to the world is recommended for speedy and sure economic growth....
Persistent link: https://www.econbiz.de/10005170180
we are able to obtain a necessary and sufficient condition for existence that requires an equilibrium price vector to … satisfy finitely many inequalities. A necessary and sufficient condition for the existence of market equilibrium when the …
Persistent link: https://www.econbiz.de/10005537388
This paper establishes the existence of a stationary equilibrium and a procedure to compute solutions to a class of …
Persistent link: https://www.econbiz.de/10005543401
large class of private value auctions, ties never occur in the equilibrium of the augmented game. This establishes existence …
Persistent link: https://www.econbiz.de/10005482062
We show existence of equilibria in istributional strategies for a wide class of private value auctions, including the … first general existence result for double auctions. The set of quilibria is invariant to the tie-breaking rule. The model … involves a positive volume of trade. The existence proof establishes new connections among existence techniques for …
Persistent link: https://www.econbiz.de/10005482216
the existence of optimal contracts. We also show that the first-order approach is valid in generalized agency problems if …
Persistent link: https://www.econbiz.de/10005370610
for the existence of market equilibrium. We assume that the production functions of the profit maximizing agents are …
Persistent link: https://www.econbiz.de/10005407584
In the standard CAPM with a riskless asset we prove existence of equilibria without assuming concavity of the investor …
Persistent link: https://www.econbiz.de/10004968125
existence of the short-run equilibrium and the long-run equilibrium in a two-sector growth model with an intermediate product …
Persistent link: https://www.econbiz.de/10004976742
This paper proposes conditions for the existence and uniqueness of solutions to systems of linear differential or …
Persistent link: https://www.econbiz.de/10011107980