The paper considers price adjustment on the plane and derives global stability conditions for such dynamics. First, we examine the well-known Scarf Example, to obtain and analyze a global stability condition for this case. Next, for a general class of excess demand functions, a set of conditions...

The present paper considers a class of general equilibrium economics when the primitive uncertainty model features uncertainty about continuous-time volatility. This requires a set of mutually singular priors, which do not share the same null sets. For this setting we introduce an appropriate...

We present a comprehensive theory of large non-anonymous games in which agents have a name and a determinate social-type and/or biological trait to resolve the dissonance of a (matching-pennies type) game with an exact pure-strategy Nash equilibrium with finite agents, but without one when...

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...

This paper adds three dimensions to the received literature: it models migration when the individuals' preferences regarding their relative income are ordinal, it works out the resulting spatial steady-state distribution of the individuals, and it shows that the aggregate of the individuals'...

This paper adds three dimensions to the received literature: it models migration when the individuals' preferences regarding their relative income are ordinal, it works out the resulting spatial steady state distribution of the individuals, and it shows that the aggregate of the individuals'...

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 novel...

Social demand functions result from the budget constrained maximization of “social preferences” or “other regarding preferences.” These preferences are non-selfishin the sense that they also depend on other consumers’ wealth. This paper addresse sthe robustness to wealth externalities...

This paper analyzes the problem of selecting a set of items whose prices are to be updated in the next iteration in so called simple ascending auctions with unit-demand bidders. A family of sets called "sets in excess demand" is introduced, and the main results demonstrate that a simple...