competitive equilibrium
The Hayek hypothesis and long run competitive equilibrium: an experimental investigation
... implement competitive equilibrium ...of competitive equilibrium allocations ...implement competitive equilibrium prices and allocations when con- sumers’ and firms’ information ...
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Moral hazard, optimal healthcare seeking behavior, and competitive equilibrium
... The theory of the optimal-consumption leisure choice under price dispersion describes the phenomenon of moral hazard as the customer’s reaction on unfair insurance policy. The unfair insurance offer does not equalize ...
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Competitive equilibrium for indivisible objects
... a competitive equilibrium, and that the largest competitive price of each object is equal to its contribution to the social ...a competitive equilibrium whenever it is similar to ...
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Optimal resource allocation in General Cournot competitive equilibrium
... Cournot-competitive Equilibrium model with two industries that differ only in terms of ...general equilibrium, the more efficient industry produces too little and the less efficient industry produces ...
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Competitive equilibrium with indivisible objects
... and Crawford [8] prove that when all agents view objects as substitutes in the sense that their preferences satisfy GS, a price adjustment procedure will end up at a competitive equilibrium. In this paper, ...
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A Reexamination of the Partial Competitive Equilibrium Analysis of Export Subsidies
... A Reexamination of the Partial Competitive Equilibrium Analysis of Export Subsidies Dunz, Karl American University of Paris... Df Qsh Qdf.[r] ...
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Intertemporal competitive equilibrium: a reappraisal of a basic source of instability
... reinterpretation of the model of individual behaviour underlying the excess demand functions, iii) the adoption of a tâtonnement pricing consistent with i)-ii), and iv) the analysis of the specific source of non ...
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Competitive equilibrium in the italian wholesale electricity market
... new equilibrium prices are the competitive ones and represent the market clearing price that would have been if the electricity market was competitive and the effects of unilateral market power were ...
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Adam Smith and Competitive Equilibrium
... an equilibrium? In an economy in a state of continual forward motion prices are no more than signalling ...shifting, equilibrium outcome is ...standstill. Equilibrium ‘outcome’ is like a mirage; the ...
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Sustainable debt
... Dominant roots act, in a way, as discount factors for future contingent claims. When markets are incomplete, the present value of future claims is ambiguous, because they cannot be replicated using available securities. ...
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Three variants of endogenous growth : as applied to the United Kingdom, 1948-2000
... However, Young himself never talked of fixed costs or economies of scale or competitive equilibrium or monopoly power in the context of increasing returns.' In the Youngian notion, incre[r] ...
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Sovereign debt and incentives to default with uninsurable risks
... The hypothesis of uniformly high implied interest rates restricts prices and, hence, en- dogenous variables. However, it can be derived from assumptions on fundamentals at a competitive equilibrium under ...
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Epsilon cores of games and economies with limited side payments
... Our result showing that "-cores treat similar players similarly demonstrates that the equal treatment property of competitive equilibrium extends to approximate cores of large games with[r] ...
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Uniqueness and determinacy of the Romer model
... In the literature, some authors have discussed partially about this issue. By simplifying the Romer model, Arnold (2000a, 2000b) examines the saddle-point stability of a conjectured steady state for the monopolistic ...
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When Do Market Games Have Transferable Utility
... In general if there are convex preferences and if an allocation x is Pareto opt imal, then there exists a price vector p* such that if x is a competitive equilibrium allocation at prices[r] ...
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Matching_KSY_20181031.pdf
... of competitive equilibrium and carry clear welfare implications; in addition, one can also demonstrate group strategy- proofness for doctors of a mechanism that selects the doctor-optimal competitive ...
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Online Full Text
... This competitive equilibrium is less efficient than the socially optimal equilibrium with both sources using only direct ...the competitive equilibrium has higher transportation cost of ...
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Learning Through Hiring: Knowledge From New Workers as an Explanation of Endogenous Growth
... The aim of this paper is to show that there is a certain set of assumptions that are sufficient for the competitive equilibrium to be a balanced growth path. Along this balanced growth path all firms ...
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Non existence of competitive equilibria with dynamically inconsistent preferences
... of competitive equilibrium models with dynamically inconsis- tent and time-separable preferences 2 ...of competitive equilibria even in a simple deterministic three period repre- sentative agent ...
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Call market experiments : efficiency and price discovery through multiple calls and emergent newton adjustments
... A natural question motivated by the Cason and Friedman experiments is whether or not thicker markets with public (open) book, bid adjustment flexibility, and multiple calls will enhance call market performance. The issue ...
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