equilibrium if and only if the potential market value function is concave with respect to the total initial endowment of …

At a Nash - Walras equilibrium, individuals exchange commodities competitively, and, simultaneously, they interact … strategically. Under standard assumptions, NashWalras equilibria exist, equilibrium profiles of actions are, typically, determinate …

with asymmetric information. Nash-Walras equilibria exist for large economies, even if utilityfunctions are not quasi …

believe. Even in the most favorable circumstances { a single equilibrium and an everywhere downward{sloping excess …{demand function { the equilibrium may not be stable and the state variables may converge to a cycle around it, and more or less far … from it. Second, if the single equilibrium is unstable and, due to the presence of upward{sloping tracts of the demand …

utility (TU) game from the viewpoint of general equilibrium theory.For any given game, we construct a competitive exchange … general TU game coincides with the set of equilibrium payoff vectors of its corresponding economy and that the coalition … structures of the game are endogenously determined by the equilibrium outcomes of the economy.As a consequence, the core of a …

divisible good. It is shown in an extremely simple manner that the market has a Walrasian equilibrium if and only if an … shown that the equilibrium prices of the goods and the profits of the agents are the optimal solutions of the linear program …