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 … levels of two countries” cases among “stability” cases falls. In Section 4, assuming that the above countries have domestic …

In this Paper we propose a concept of stability for intertemporal equilibria with rational expectations: current period … prices move proportionally to current period excess demand while future prices are formed according to the perfect foresight … Hicks' and exceptional stability. In an intertemporal variant of Scarf's example on the instability of Walrasian t …

seemingly weaker notions of stability follows directly from the optimality conditions, in particular the absence of improvement … trading networks, and testing (chain) stability. …