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Persistent link: https://www.econbiz.de/10009325272
This paper derives a general sufficient condition for existence and uniqueness in continuous games using a variant of … contraction mapping variant, and then show how the existence of a unique equilibrium in the general game can be shown by proving … the existence of a unique equilibrium in an iterative sequence of games involving such R-to-R mappings. Finally, we show …
Persistent link: https://www.econbiz.de/10008672254
In this paper we deal with an Overlapping Generations Model with production under three diverse assumptions about agents rationality; rational, adaptive and myopic expectations. We determine a uniqueness condition for stationary steady states in the model with perfect foresight which rests on...
Persistent link: https://www.econbiz.de/10008678783
transformed into an optimal control problem by the optimization theory. The existence, uniqueness and necessary condition of the …
Persistent link: https://www.econbiz.de/10010870569
In this paper we show how externalities between links affect the existence and uniqueness of pairwise stable (PS …
Persistent link: https://www.econbiz.de/10010845480
It is shown that rent-seeking contests with continuous and independent type distributions possess a unique pure-strategy Nash equilibrium.
Persistent link: https://www.econbiz.de/10010817244
theorems include Hadamard local wellposedness, global existence, blow-up and non-existence theorems, as well as estimates on …
Persistent link: https://www.econbiz.de/10011051030
Constant returns to scale (CRS) is one of the corner-stones of the competitive general equilibrium paradigm of neoclassical economics. This note argues that the equilibrium solutions of this paradigm are not compatible with CRS. CRS implies that all producers (whatever their scale of production)...
Persistent link: https://www.econbiz.de/10011108250
This note studies the existence and uniqueness of quasi-maximum likelihood estimator for mixed regressive, spatial …
Persistent link: https://www.econbiz.de/10011040116
We study a dynamic stochastic general equilibrium model in continuous time. Related work has proven that optimal consumption in this model is a smooth function of state variables. This allows us to describe the evolution of optimal state variables (wealth and labour market status) by stochastic...
Persistent link: https://www.econbiz.de/10010615396