For an increasing upper order hemi-continuous correspondence F selfmapping sigma-complete lattice A, we first provide tight fixed-point bounds for sufficiently large iterations on F starting from any initial point a in A. We use this result for conducting iterative fixed-point comparative...

Competition between oligopolist electricity generators is inhibited by transmission constraints. I present a supply function equilibrium (SFE) model of an electricity market with a single lossless, but constrained, transmission line. The market admits equilibria in which generator withhold...

There are three types of "Anything Goes" results: two of them from economic theory and one from the realms of dynamical systems. The study considers the implications of such results and tries to identify conditions under which certain types of conclusions may be implied: convergence, cycles or...

This article presents a new approach to analyze the equilibrium set of symmetric, differentiable games by separating multiple symmetric equilibria and asymmetric equilibria. This separation allows the investigation of, for example, how various parameter constellations affect the scope for...

Under certain conditions on the excess demand function, it is shown that the set of equilibrium prices coincides with the set of maximizers of a potential function. Therefore, monotone comparative statics techniques can be employed to study how equilibrium prices change when there are shocks to...

Purpose - The purpose of this paper is to study the Hölder calmness of solutions to equilibrium problems and apply it to economics. Design/methodology/approach - The authors obtain the Hölder calmness by using an effective approach. More precisely, under the key assumption of strong convexity,...

We consider a class of stochastic discounted games with increasing preferences. We first prove existence of extremal Stationary Markov Perfect Equilibria (SMPE) in pure strategies, and we characterize those equilibria as unique fixed points of well-chosen operators. We use this characterization...

This paper is aimed at widening the scope of applications of majorized correspondences. A new class of majorized correspondences -- domain U-majorized correspondences -- is introduced. For them, a maximal element existence theorem is established. Then, sufficient conditions for the existence of...

We revisit a classical theme of general equilibrium theory, namely the continuity of the Walras correspondence. Using a remarkable theorem due to Fort (1951) which has widely been used in recent literature on game theory, we are able to prove the generic continuity of the price equilibrium-set...