Similar Search Results

Direct Perturbations of Aggregate Excess Demand

Castro, Sofia B.S.D. - 2010

We complement the Sonnenschein-Mantel-Debreu results by establishing that an exchange economy, i.e., preferences and endowments, that generates a given aggregate excess demand (AED) function is close to the economy that generates a perturbation of this AED. As a consequence, genericity and...

Persistent link: https://www.econbiz.de/10012716023

Radner equilibria under ambiguous volatility

Beißner, Patrick - 2013

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...

Persistent link: https://www.econbiz.de/10010212527

Temporary Shocks and Unavoidable Transitions to a High-Unemployment Regime

den Haan, Wouter J. - 2021

This paper develops a model with multiple steady states (low tax and unemployment rate versus high tax and unemployment rate) in which equilibrium selection is not conditioned on a sunspot. Instead, large enough shocks initiate unavoidable transitions from one regime to the other. The...

Persistent link: https://www.econbiz.de/10013319732

Walras and Pareto on the Meaning of the Solution Concept in General Equilibrium Theory

Donzelli, Franco - 2011

Theory (GET). In this paper, after introducing the two solution concepts employed by Walras in the development of his version …

Persistent link: https://www.econbiz.de/10014055100

Arbitrage, Equilibrium, and Nonsatiation

Allouch, Nizar; Le Van, Cuong; Page, Frank H. - 2004

contributions to the theory of arbitrage and competitive equilibrium. First, we show that, in general, in unbounded exchange …

Persistent link: https://www.econbiz.de/10014072336

Underlying Consumer Heterogeneity in Markets for Subscription-Based IT Services with Network Effects

Niculescu, Marius Florin; Shin, Hyoduk; Whang, Seungjin - 2015

In this paper we explore the underlying consumer heterogeneity in competitive markets for subscription-based IT services that exhibit network effects. Insights into consumer heterogeneity with respect to a given service are paramount in forecasting future subscriptions, understanding the impact...

Persistent link: https://www.econbiz.de/10014043216

Chapter 5 The Economic Theory of Gift-Giving: Perfect Substitutability of Transfers and Redistribution of Wealth

Mercier Ythier, Jean - In: Handbook of the economics of giving, altruism and …, (pp. 227-369). 2006

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic … analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent … voluntary redistribution of income or wealth. The theory concentrates on lump-sum voluntary transfers, individual or collective …

Persistent link: https://www.econbiz.de/10014023678

Application of Fixed Point Theorems : The Existence of General Equilibrium in a Market Economy

Arora, Siddharth Vikas - 2022

Usually in an economy with a finite amount of commodity markets, it reaches a general equilibrium only if and when at a given price set value, aggregate supply equals the aggregate demand within these individual markets. In this expository paper, we will take an algebraic topological approach...

Persistent link: https://www.econbiz.de/10014082585

From Singularity Theory to Finiteness of Walrasian Equilibria

Castro, Sofia B.S.D. - 2013

singularity theory …

Persistent link: https://www.econbiz.de/10013094465

A fresh look on economic evolution from kinetic viewpoint

Lehmann-Waffenschmidt, Marco - 2003

The present paper makes a contribution to fill in a gap left open by dynamic theory and evolutionary economics as well …. While the "closed loop" dynamic theory has explanation power in analyzing evolving economic systems at the price of …

Persistent link: https://www.econbiz.de/10010305437