Showing 1 - 10 of 101
observed. We characterize the limit set of equilibrium payoffs as the duration of the game increases. …
Persistent link: https://www.econbiz.de/10010603646
The recursive formula for the value of the zero-sum repeated games with incomplete information on both sides is known …
Persistent link: https://www.econbiz.de/10010750446
relationships and a segregation equilibrium emerges. Segregation stems from the systematic cooperation by one group with another …
Persistent link: https://www.econbiz.de/10010750463
evolution of the price system at finance markets with asymmetric information. The zero-sum repeated games with incomplete … information are considered modeling the bidding with countable sets of possible prices and admissible bids. It is shown that, if …
Persistent link: https://www.econbiz.de/10008788854
factor goes zero) are given. Similar characterizations for stationary Nash equilibrium payoffs are obtained. The results may …
Persistent link: https://www.econbiz.de/10008793683
existence of a unique Nash equilibrium and of a unique social optimum are established. Under these conditions, we find that … players with more vulnerable locations in the network exert more effort at equilibrium, and that the most influential players …
Persistent link: https://www.econbiz.de/10010821156
We consider a two-date model of a financial exchange economy with finitely many agents having nonordered preferences and portfolio constraints. There is a market for physical commodities at any state today or tomorrow and financial transfers across time and across states are allowed by means of...
Persistent link: https://www.econbiz.de/10010738451
This paper explores risk-sharing and equilibrium in a general equilibrium set-up wherein agents are non … probability. Hence, optimal allocations are comonotone. This enables us to study the equilibrium set. When agents have different …
Persistent link: https://www.econbiz.de/10010738584
seminal role played by two lemmas of David Gale in the development of the foundations of General Equilibrium Theory. …
Persistent link: https://www.econbiz.de/10010738676
We prove that every two-player nonzero-sum Dynkin game in continuous time admits an "epsilon" equilibrium in randomized … stopping times. We provide a condition that ensures the existence of an "epsilon" equilibrium in nonrandomized stopping times. …
Persistent link: https://www.econbiz.de/10010899803