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In this paper, we establish the existence of Berge's strong equilibrium for games with n persons in infinite dimensional strategy spaces in the case where the payoff function of each player is quasi-concave. Moreover, we study the continuity of Berge's strong equilibrium correspondence and prove...
Persistent link: https://www.econbiz.de/10009225974
In this paper, we establish the existence of Berge's strong equilibrium for games with n persons in infinite dimensional space in the case where the payoff function of each player is quasi-concave. Moreover, we study the continuity of Berge's strong equilibria correspondence and essential games.
Persistent link: https://www.econbiz.de/10010552461
For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the Edgeworth rejective core. Then, via Konovalov (1998, 2005)’s decentralization result, we solve the equilibrium with dividends existence...
Persistent link: https://www.econbiz.de/10010608640
An F-cone is a pointed and generating convex cone of a real vector space that is the union of a countable family of finite dimensional polyedral convex cones such that each of which is an extremel subset of the subsequent one. In this paper, we study securities markets with countably many...
Persistent link: https://www.econbiz.de/10010905335
For an exchange economy, under assumptions which did not bring about the existence of equilibrium with dividends as yet, we prove the non-emptiness of the fuzzy rejective core. Then, via Konovalov (1998, 2005)'s equivalence result, we solve the equilibrium with dividends existence problem....
Persistent link: https://www.econbiz.de/10010780014
Persistent link: https://www.econbiz.de/10005296482
The second welfare theorem and the core-equivalence theorem have been proved to be fundamental tools for obtaining equilibrium existence theorems, especially in an infinite dimensional setting. For well-behaved exchange economies that we call proper economies, this paper gives (minimal)...
Persistent link: https://www.econbiz.de/10009448515
Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public...
Persistent link: https://www.econbiz.de/10005012498
Focussing on their analysis of the optimal public goods provision problem, this paper follows the parallel development of equilibrium models and mechanism design after the accommodation of Samuelson's definition of collective goods to the general equilibrium framework. Both paradigms lead to the...
Persistent link: https://www.econbiz.de/10005012508
The present paper provides compendious and thorough solutions to the price equilibrium existence problem, the second welfare theorem, and the limit theorem on the core of an economy for exchange economies whose commodity space is an arbitrary ordered Frechet space. The motivation comes from...
Persistent link: https://www.econbiz.de/10005750838