Walrasian equilibrium.
Collective Bargaining and Walrasian Equilibrium
... A Jevonsian Model. An alternative generalization of Dàvila and Eeckhout (2007), following the Jevonsian tradition, would be one in which agents are sequentially matched in pairs, and the exchange process consists of a ...
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Designing a strategy proof spot market mechanism with many traders : twenty two steps to Walrasian equilibrium
... the equilibrium allocations that result from a perfectly com- petitive spot market system have efficiency and welfare properties that are fairly well ...for Walrasian equilibrium in such a system to ...
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Existence of a Walrasian Equilibrium in Locally Convex Topological Vector Spaces, with Interdependent Utility Functions
... existence of Walrasian equilibrium. That is, we show the existence of a pair ( p x , ) conformed by prices and an allocation, in a dual pair ( E F , ) (see below), such that every consumer maximizes his ...
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Designing a strategy proof spot market mechanism with many traders : twenty two steps to Walrasian equilibrium
... of equilibrium in general games, restrictive epistemic conditions are required in order to ensure that the players can reach a pure strategy Nash equilibrium corresponding to a Walrasian ...Nash ...
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Retained earnings dynamic, internal promotions and Walrasian equilibrium
... This paper argues that when firms maximize the discounted sum of constrained profits, financing expendi- ture out of retained earnings and the internal labor market arises as a cost minimizing institution, due to firm ...
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A classification approach to Walrasian equilibrium with substitutability
... This paper contributes to the literature on economies with indivisible objects. We introduce the notion of t -substitutability to generalize the substitutability condition and characterize ranges of variation for agents’ ...
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Price expectations in neo Walrasian equilibrium models: an overview
... general equilibrium theory has focused on economies in which spot markets for commodities coexist with some asset markets and trade takes place sequentially over ...temporary equilibrium theory, in which ...
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Walrasian Dynamics in Multi-Unit Markets
... a Walrasian equilibrium does not always exist in this model, natural relaxations of the concept that retain its desirable fairness properties do ...Nash equilibrium with small loss in rev- enue and ...
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Upending Stock Market Structure Using Secure Multi-Party Computation
... The answer to both these questions may lie in the fact that the “specialist” is not generally trusted, especially for large orders. Another reason may be that stock market simulations show that continuous double auctions ...
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A convergence result for a bargaining set
... the Walrasian correspondence is upper semicontinuous (see Hildenbrand and Mertens, 1972), uniqueness of Walrasian equilibrium guarantees that our convergence theorem ...
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Evolution in a Walrasian setting
... this equality on the profits holds, then, the economy will not change in the future, unless it happens some perturbation in its fundamentals for reasons exogenous to the model. (The stability in the Lyapunov sense of ...
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From Walrasian general equilibrium to incomplete contracts : making sense of institutions
... The Walrasian equilibrium is statique or “instantaneous” (Donzelli, ...sunspot equilibrium (Cass and Shell, 1983, ...a Walrasian model of competitive ...
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Equilibrium Bids in Sponsored Search Auctions: Theory and Evidence
... number of rounds, and that the final prices paid for the K objects converge to Wal- rasian equilibrium prices as the increment in the simultaneous ascending auction tends to zero. This implies that ...
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On the core and Walrasian expectations equilibrium in infinite dimensional commodity spaces
... a Walrasian equilibrium in the Arrow-Debreu-McKenzie model, Radner also introduced the notion of a Walrasian expectations equilibrium for an asymmetric information economy so that the infor- ...
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Quasivariational Inequalities for a Dynamic Competitive Economic Equilibrium Problem
... economic equilibrium problem in terms of maximization of utility functions and of excess demand ...This equilibrium problem is studied by means of a time-dependent quasivariational inequality which is set ...
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Could Markets' Equilibrium Sets Be Fractal Attractors?
... fixed-point equilibrium price vector p* from any initial price vector p(0) > 0 (see, Arrow and Debreu, 1954; Arrow, Brock and Hurwicz, 1958; Arrow and Hur- wicz, 1959, among ...
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Normative Utility Models for Pareto Scalar Equilibria in n Person, Semi Cooperative Games in Strategic Form
... DOI: 10.4236/tel.2017.76113 1671 Theoretical Economics Letters Rubinstein [33] later described two interpretations of mixed strategies. The first was based on the purification theorem of Harsanyi [34]. The basic idea be- ...
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Cournot Walras equilibrium as a subgame perfect equilibrium
... his Walrasian demand whereas each large trader obtains final holdings determined as in the Shap- ley’s ...Cournot-Walras equilibrium is a noncooperative equilibrium of a game where the players are ...
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Are the anti globalists right? Gains from trade without a Walrasian auctioneer
... (or complementarities) determine the sign of agents’ reactions to expectations, what is instrumental for expectational coordination is the magnitude of these reactions. Spatial price equalization (or stabilization) ...
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What makes a market economy? : Schumpeter, Smith and Walras on the coordination problem
... in Walrasian general equilibrium theory, Schumpeter’s account of Smith’s contribution to the history of economic thought has become the way to read The Wealth of ...general equilibrium theory, 15 or ...
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