incentive efficient. Moreover, any incentive efficient allocation can be decentralized as a competitive equilibrium. …

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …

trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium …

equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional … Walrasian equilibrium does not exist. -- General equilibrium theory ; endowment effect : non-existence of equilibrium …

trade-off. Basing on a general equilibrium model by T. Kehoe including production and taxes we provide a formal model of an … evolution equilibrium. It is based on arguments from the gradual vs. bang-bang tax reform controversy and from the debate on … optimal macroeconomic policy design. Existence of equilibrium is established extending an analytical result which in a …

equilibrium if zero. Second, we provide representations of price and demand as unbounded operators on an infinite dimensional … Walrasian equilibrium does not exist …

I review previous approaches to modelling oligopoly in general equilibrium, and propose a new view which in principle … equilibrium and derive some surprising implications for competition policy. …