Different markets are cleared by different types of prices -- seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. We examine a setting in which buyers and sellers make investments before matching in a competitive market....

Computable General Equilibrium (CGE) models have been widely used for quantitative analysis of global economic issues. However, CGE models are frequently criticized for resting on weak empirical foundations. This paper builds on recent work in macro-econometric estimation, developing an approach...

We consider firms and multi-member households operating in a competitive market environment. Households are endowed with resources (commodity bundles) and shares of firm ownership. Household members are characterized by individual preferences, possibly with intra-household consumption...

В интервью с лауреатом Нобелевской премии по экономике К. Эрроу обсуждается проблематика общественных предпочтений и интересов, математизации экономической...

В данной статье продолжен анализ рынка опекаемых благ. Автор предлагает свою трактовку проблемы с позиций концепции социодинамики. Дается краткая...

Статья представляет собой фрагмент из будущей книги автора <Рождение теории. Разговоры с известными экономистами> и посвящена полемике с Р. Масгрейвом. Основной предмет дискуссии - теория общественных благ и...</Рождение>

Статья посвящена некоторым аспектам теории опекаемых благ в контексте эффективного и неэффективного равновесия. В работе представлены особенности опекаемых...

This paper considers a two-period monetary double auction with incomplete markets of securities and derivatives. Players may share heterogenous beliefs. Short positions in derivatives are constrained by collateral requirements. A central Bank stands ready to lend money or engage in...

Behavioral assumptions, rational or otherwise, are not solid enough to be eligible as first principles of theoretical economics. Hence all endeavors to lay the formal foundation on a new site and at a deeper level actually need no further vindication. The present paper suggests three...

We generalise the classical implicit function theorem (IFT) for a family of Banach spaces, with the resulting implicit function having derivatives that are locally Lipschitz to very strong operator norms.