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We derive from Bernis [2000] a strategic mechanism which fully implements the set of competitive equilibria on a dynamically incomplete reinsurance market VIA Nash equilibria. The mechanism is feasible, and such that the set of coalition proof Nash equilibria coincides with that of Nash...
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We present a fairly simple, feasible, price-quantity strategic market game for pure-exchange economies with finitely many agents, such that the set of pure Nash equilibrium outcomes coincides with the set of competitive equilibria. Our set-up encompasses incomplete, non-convex, non-transitive,...
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This paper studies geometric properties of semi-algebraic economies with (eventually nonconvex) production - a class which includes linear or Cobb-Douglas preferences, polyhedric production sets and indivisible commodities as well. The main departure with the textbook differentiable viewpoint is...
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We investigate properties of correlated equilibria in competitive, pure-exchange market games. We prove that: 1) the game defined in Schmeidler (1980) always admits the no-trade issue as mixed equilibrium outcome; 2) non-pure correlated equilibria may exist in every competitive strategic market...
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