Similar Search Results

Existence of an equilibrium in a competitive economy with indivisibilities and money

Laan, Gerard van der - In: Journal of mathematical economics 28 (1997) 1, pp. 101-109

Persistent link: https://www.econbiz.de/10001229007

Non-Computability of Competitive Equilibrium

Richter, Marcel (Ket); Wong, Kam C. - 1999

We provide a "computable counterexample" to the Arrow-Debreu competitive equilibrium existence theorem [2]. In particular, we find an exchange economy in which all components are (Turing) computable, but in which no competitive equilibrium is computable. This result can be interpreted as an...

Persistent link: https://www.econbiz.de/10014185758

Evolution of Competitive Equilibrium with Endogenous Product Differentiation

Matsumura, Toshihiro; Matsushima, Noriaki; Yamamori, Tetsuo - 2013

Previous theoretical researches show that learning from good performers yields intense competition and results in the low profitability of firms. These researchers do not take into account differentiation strategies being referred as a useful strategic tool to mitigate competition. We introduce...

Persistent link: https://www.econbiz.de/10014194700

Can Bitcoin Compete with Money?

Weber, Beat - 2014

possible replacement of established money and derive implications about the possible coexistence of both later …

Persistent link: https://www.econbiz.de/10013048873

Classical competition and equilibrium : an agent-based analysis

Cogliano, Jonathan; Veneziani, Roberto - 2024

In A Mathematical Formulation of the Ricardian System, Pasinetti (1960) lays out the foundations of what has been dubbed the canonical classical model. He proves the model to be logically consistent and determinate in all its macro-economic features, and derives the solutions for all key...

Persistent link: https://www.econbiz.de/10015066978

Competition and Equilibrium Effort Choice

Xu, Jing - 2022

We examine optimal effort choice in a competition model where the agents are averse to low relative status and to exerting excessive effort. The game has a unique pure strategy Nash equilibrium. When the agents are homogeneous, a stronger competition incentive induces higher effort levels and...

Persistent link: https://www.econbiz.de/10013289281

Unique Equilibrium in Contests with Incomplete Information

Ewerhart, Christian - 2018

Considered are imperfectly discriminating contests in which players may possess private information about the primitives of the game, such as the contest technology, valuations of the prize, cost functions, and budget constraints. We find general conditions under which a given contest of...

Persistent link: https://www.econbiz.de/10012936799

Unique equilibrium in contests with incomplete information

Ewerhart, Christian; Quartieri, Federico - 2013

Szidarovszky and Okuguchi (Games and Economic Behavior, 1997) have provided useful conditions for the existence of a unique pure-strategy Nash equilibrium in rent-seeking games of complete information. In this paper, we generalize their results to contests with incomplete informa tion. Two...

Persistent link: https://www.econbiz.de/10010208517

Cooperation, competition, and welfare in a matching market

Bester, Helmut; Sákovics, József - 2022

We investigate the welfare effect of increasing competition in an anonymous two-sided matching market, where matched … pairs play an infinitely repeated Prisoner's Dilemma. Higher matching efficiency is usually considered detrimental as it … creates stronger incentives for defection. We point out, however, that a reduction in matching frictions also increases …

Persistent link: https://www.econbiz.de/10013333575

Cooperation, competition, and welfare in a matching market

Bester, Helmut; Sákovics, József - 2022

Persistent link: https://www.econbiz.de/10013331070