In a pure exchange economy we propose a general equilibrium concept under imperfect competition, the "Cournotian Monopolistic Competition Equilibrium", and compare it to the Cournot-Walras and the Monopolistic Competition concepts. The advantage of the proposed concept is to simplify the...

The cyclical behavior of wages and prices was a central topic in trade cycle analysis on the eve of the Second World War. Keynes and Harrod independently referred in the same year to the supposed countercyclicality of real wages, a feature that was contested soon after, on empirical grounds, by...

This paper deals with issues concerning the core as a solution concept for games in coalitional form as well as the use of these games in representing economies of a certain formal type. Side-payment games are imbedded in the more general class of no-side-payment games. It is shown that to a...