Since the beginnings of modern economics, economists sought to emulate the revolution in physics initiated by Newton’s ‘Principia’ (1687). Concepts from mechanics have influenced economic models both in terms of methodology and content. The aim of this theoretical paper is to put forward a...

The theory of large one-shot simultaneous-play games with a biosocial typology has been presented in both the individualized and distributionalized forms-large individualized games (LIG) and large distributionalized games (LDG), respectively. Using an example of an LDG with two actions and a...

We prove the non-emptiness of the core of an NTU game satisfying a condition of payoff-dependent balancedness, based on transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff vectors satisfying this condition. The additional...

This study presents an approach based on a perturbation technique to construct global solutions to dynamic stochastic general equilibrium models (DSGE). The main idea is to expand a solution in a series of powers of a small parameter scaling the uncertainty in the economy around a solution to...

Este trabajo desarrolla un modelo en donde se endogenizan las actividades delictivas para estudiar los efectos de la desigualdad de oportunidadesy la movilidad social sobre la incidencia de dichas actividades. En particular, se plantea un modelo de equilibrio general derivado de la...

This paper gives a proof of the existence of general equilibrium without the use of a fixed point theorem. Unlike other results of this type, the conditions we use do not imply that the set of equilibrium prices is convex. We use an assumption on the excess demand correspondence that is related...

Since Hart's [5] and Werner's [10] seminal papers, several conditions have been proposed to show the existence of equilibrium in an asset exchange economy with short-selling. In this note, we discuss the relationship between two no-arbitrage conditions. The first condition is the assumption that...

A simple proof of Reny and Wooders' recent strengthening of Shapley's extension of the Knaster-Kuratowski-Mazurkiewicz lemma on a closed cover of a simplex is given. The proof uses Ky Fan's coincidence theorem.

It is shown that core-Walras equivalence fails whenever the commodity space is a non-separable Banach space. The interpretation is that a large number of agents guarantees core-Walras equivalence only if there is actually a large number of agents relative to the size of the commodity space....

Page and Wooders (1996) prove that the no-unbounded-arbitrage (NUBA) condition introduced by Page (1987) is equivalent to the existence of a no arbitrage price (NAPS) when no agent has non-null useless vectors. Al- louch, Le Van and Page (2002) show that their generalized NAPS condition is...