A fixprice, non-Walrasian temporary equilibrium that coexists with the Walrasian equilibrium at Walrasian temporary equilibrium prices has been called "unsatisfactory" by F. Hahn (1977). If consumers live and work for two periods, expectations of future unemployment easily (in particular with...

Two firms choose locations (non-wage job characteristics) on the interval [0,1] prior to announcing wages at which they employ workers who are uniformly distributed; the (constant) marginal revenue products of workers may differ. Subgame perfect equilibria of the two-stage location-wage game are...

Two firms choose locations (non-wage job characteristics) on the interval [0,1] prior to announcing wages at which they employ workers who are uniformly distributed' the (constant) marginal revenue products of workers may differ. Subgame perfect equilibria of the two-stage location-wage game are...