shocks. We focus on general equilibrium duopoly as a strategic market game with infinite strategies, and a pricing mechanism …-spot equilibrium, and noise trade …

A theory of general economic equilibrium with incomplete financial markets is developed with many new features … money. To this end, equilibrium is given a variational formulation that brings fresh tools to the subject. A different way … framework of the model, the proof of equilibrium is able moreover to proceed under far weaker assumptions than usual on the …

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. …

Purpose - The purpose of this paper is to study the Hölder calmness of solutions to equilibrium problems and apply it … equilibrium problems are established. Findings - A new result in stability analysis for equilibrium problems and applications in …

equilibrium is unique if the income process is AR(1), but not necessarily so otherwise. With Gaussian shocks, I provide general … equilibrium …

In a standard general equilibrium model it is assumed that there are no price restictionsand that prices adjust … infinitely fast to their equilibrium values. In this paper the set ofadmissible prices is allowed to be an arbitrary convex set …. For such an arbitrary set it cannotbe guaranteed that there exists a constrained equilibrium satisfying the usual …

establishes the existence of sequential competitive equilibrium, generalized recursive equilibrium, recursive equilibrium with an … extended-state space, and characterizes several important properties of the equilibrium variables. The equilibrium process … shocks such as Huggett (1997)'s economy. However, the existence of recursive equilibrium with the natural minimal state space …

well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …

information, the best-reply dynamic converges to a Nash equilibrium almost surely. Moreover, only Nash equilibria can be … stochastically stable. We present a 'centipede-trust game', where we prove that both the backward induction equilibrium component and … the Pareto-dominant equilibrium component are stochastically stable, even when the populations increase to infinity. For …