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 …

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 …

many players, every mixed strategy Nash equilibrium can be used to construct a Nash e-equilibrium in pure strategies that …

existence and uniqueness of Markovian equilibrium are weIl known for the compact state space case, no similar sufficient … algorithm that will prove asymptotically consistent when computing Markovian equilibrium. …

neoclassical equilibrium analysis. They provide the setting of optimal decision making and therein constitute the tacit rationale …

This paper examines the equilibrium effects of alternative financial aid policies intended to promote college …

considerable debate in recent years. We consider different concepts of exchange rate equilibrium, and review recent evidence on … real time. While the New Zealand dollar exchange rate may be overvalued at present, the equilibrium value of the exchange …