result shows the existence of a competitive equilibrium process that is stationary and has an invariant ergodic measure …

result shows the existence of a competitive equilibrium process that is stationary and has an invariant ergodic measure …

result shows the existence of a competitive equilibrium process that is stationary and has an invariant ergodic measure …

bounds to financial trade, existence of equilibrium requires agents with prior beliefs that agree on zero-probability events …

the decline of pM on the “existence” of solution to the game, its “stability”, and finally on the utility levels of two … countries in the “stability” case. By simulation we show that as pM falls, the number of “non-existence” cases increases, the … percentage of “instability” cases among “existence” cases rises, and finally as pM falls, the percentage of “rising utility …

equilibria may be return-dominated in that sense. Universal existence in the DGS model thus depends critically on the assumption …