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agents. The methodology is solely based on three classes of equilibrium conditions from the government's and individual agent …
Persistent link: https://www.econbiz.de/10012734481
Persistent link: https://www.econbiz.de/10012842492
precision equilibrium payoffs and Nash equilibria of otherwise very challenging problems, and even some which go beyond the …
Persistent link: https://www.econbiz.de/10012842537
shocks. We focus on general equilibrium duopoly as a strategic market game with infinite strategies, and a pricing mechanism …-spot equilibrium, and noise trade …
Persistent link: https://www.econbiz.de/10012930331
We develop a theory of equilibrium market volatility in a general equilibrium duopoly with complete information. The … no convergence of common beliefs of common knowledge to unique mixed strategies equilibrium, hence, rational expectations … approach cannot be applied. Volatility at the market appears from a multiplicity of equilibrium mixed strategies; they cannot …
Persistent link: https://www.econbiz.de/10012895422
We are constructing an imperfect competition general equilibrium model, with non-consumable money and labor market; our … toolkit is an equilibrium default model of Shubik-Wilson (1978). Our result has an ‘equilibrium volatility' simultaneously … not have a convergence of common beliefs of common knowledge. It is impossible to calculate equilibrium mixed strategies …
Persistent link: https://www.econbiz.de/10012895423
We are developing a theory of equilibrium market instability in a general equilibrium duopoly caused merely by …
Persistent link: https://www.econbiz.de/10012912107
We develop a theory of equilibrium market instability in a general equilibrium duopoly caused merely by strategic trade … expectations equilibrium, information discovery property of market price. We demonstrate multiplicity of Pareto-improving pure …
Persistent link: https://www.econbiz.de/10012917108
The formulation of market equilibrium problems as mixed complementarity problems (MCP)permits integration of bottom …-up programming models of the energy system into top-down general equilibrium models of the overall economy. Despite the coherence and … that permits a convenient combination of top-down general equilibrium models and bottom-up energy system models for energy …
Persistent link: https://www.econbiz.de/10014059841
's optimization problem. We do not impose any additional restrictions or assumptions on the equilibrium allocations. Compared to other …
Persistent link: https://www.econbiz.de/10014060643