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The elephant in the other room
Veneziani, Roberto; Skillman, Gilbert L. - 2024 - This draft: 12 September 2023
/Kaleckian account of demand-constrained equilibrium, is a viable -- indeed, superior -- alternative to mainstream theory. While the book …
Persistent link: https://www.econbiz.de/10014476014
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Richard Cantillon's stabilizing market dynamics
Berdell, John F.; Menudo, José Manuel - In: The European journal of the history of economic thought 27 (2020) 4, pp. 476-499
Persistent link: https://www.econbiz.de/10012264200
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A Note on "Stability of Tâtonnement Processes of Short Period Equilibria with Rational Expectations"
Herings, P.J.J. - Tilburg University, Center for Economic Research - 1997
In Hens (1997), a new adjustment process is proposed for a setting with reopening spot and asset markets. He argues by means of an intemporal variant of Scarf's example that this process is more stable than the other processes, although in general it might be more stable or less stable. This...
Persistent link: https://www.econbiz.de/10011090350
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Simulation-Based Solution of Stochastic Mathematical Programs with Complementarity Constraints : Sample-Path Analysis
Ilker Birbil, S.; Gürkan, G.; Listes, O.L. - Tilburg University, Center for Economic Research - 2004
equilibrium constraints.The convergence analysis of sample-path methods rely heavily on stability conditions.We first review …
Persistent link: https://www.econbiz.de/10011090408
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The Role of Trust in Costly Network Formation
Gilles, R.P.; Sarangi, S. - Tilburg University, Center for Economic Research - 2003
We consider game theoretic models of social network formation.In this paper we limit our investigation to game theoretic models of network formation that are based on individual actions only.Our approach is based on three simple and realistic principles: (1) Link formation is a binary process of...
Persistent link: https://www.econbiz.de/10011091118
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On the Stability of Intertemporal Equilibria with Rational Expectations
Hens, Thorsten - University of Bonn, Germany - 1994
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 …
Persistent link: https://www.econbiz.de/10004968170
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The elephant in the other room
Veneziani, Roberto; Skillman, Gilbert L. - 2024
/Kaleckian account of demand-constrained equilibrium, is a viable -- indeed, superior -- alternative to mainstream theory. While the book …
Persistent link: https://www.econbiz.de/10014480522
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Stability of Tâtonnement processes of short period equilibria with rational expectations
Hens, Thorsten - Instituto Valenciano de Investigaciones Económicas (IVIE) - 1996
period prices move proportionally to current period excess demand while future prices are formed according to the perfect … and from a tâtonnement in asset and spot market prices. It also differs from Hicks' and exceptional stability. In an …
Persistent link: https://www.econbiz.de/10008550433
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Divergence, closed cycles and convergence in scarf environments: Experiments in the dynamics of general equilibrium systems
Hirota, Masayoshi; Hsu, Ming; Plott, Chrales R.; … - California Institute of Technology, Division of the … - 2005
Persistent link: https://www.econbiz.de/10005128319
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Non-Existence of Equilibrium in Vickrey, Second-Price, and English Auctions
Jackson, Matthew O. - California Institute of Technology, Division of the … - 2005
A simple example shows that equilibria can fail to exist in second price (Vickrey) and English auctions when there are both common and private components to bidders' valuations and private information is held on both dimensions. The example shows that equilibrium only exists in the extremes of...
Persistent link: https://www.econbiz.de/10005482209