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admissible prices. We introduce a new equilibrium concept, called quantity constrained equilibrium (QCE), giving a unified …. Moreover, the set contains for every commodity a generalized Dreze equilibrium, being a QCE at which for that commodity no … binding trade opportunities on both supply and demand are expected, and also a generalized supply-constrained equilibrium at …
Persistent link: https://www.econbiz.de/10014068262
cases where additionally, some variables may be strategic complements. The main result here is that the equilibrium set in … such models is a non-empty, complete lattice, if, and only if, there is a unique equilibrium. Indeed, for a given parameter … techniques for exhibiting increasing equilibria or computing equilibria that use the largest or smallest equilibrium, or that use …
Persistent link: https://www.econbiz.de/10012824357
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 …
Persistent link: https://www.econbiz.de/10012515025
formulated as an equilibrium problem with equilibrium constraints (EPEC) and examples have been posed in the literature that have …
Persistent link: https://www.econbiz.de/10013077349
prove an abstract existence result for a Nash equilibrium of our public good contribution game. Also, we show that our model …
Persistent link: https://www.econbiz.de/10010319969
prove an abstract existence result for a Nash equilibrium of our public good contribution game. Also, we show that our model …
Persistent link: https://www.econbiz.de/10009764881
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 …
Persistent link: https://www.econbiz.de/10009727120
’s of optimizing behavior and equilibrium fitness is provided. Finally, the formal proof of the internal insufficiency of … the usual approach to determine the equilibrium is advanced, and the imposing additional conditions - affecting cross …
Persistent link: https://www.econbiz.de/10011524731
surplus processes. We establish a general framework of Nash equilibrium for the associated non-zero-sum game with model … uncertainty. For the representative case of exponential utilities and the Heston model, we solve the equilibrium strategies …
Persistent link: https://www.econbiz.de/10012969836
In this note we provide a characterization of a subclass of bargaining problems for which the Nash solution has the property of disagreement point monotonicity.While the original d-monotonicity axiom and its stronger notion, strong d-monotonicity, were introduced and discussed by Thomson [15],...
Persistent link: https://www.econbiz.de/10014065513