Narrow search
Showing 1 - 4 of 4
Cover Image
Uniqueness of Markov equilibrium in stochastic OLG models with nonclassical production
Hillebrand, Marten - In: Economics Letters 123 (2014) 2, pp. 171-176
A large class of stochastic OLG economies with nonclassical production is shown to possess a unique Markov Equilibrium (ME) which is also the unique sequential equilibrium. Additional properties such as monotonicity, continuity, and smoothness of the ME are also discussed.
Persistent link: https://www.econbiz.de/10010906359
Cover Image
Unique equilibrium in rent-seeking contests with a continuum of types
Ewerhart, Christian - In: Economics Letters 125 (2014) 1, pp. 115-118
It is shown that rent-seeking contests with continuous and independent type distributions possess a unique pure-strategy Nash equilibrium.
Persistent link: https://www.econbiz.de/10010939496
Cover Image
On the belief (in-)dependence of sequential equilibria
Carlsson, Hans; Wichardt, Philipp C. - In: Economics Letters 115 (2012) 3, pp. 504-507
In this paper, we demonstrate that the existence of sequential equilibria may depend on the players holding beliefs …
Persistent link: https://www.econbiz.de/10010572218
Cover Image
Buyer’s equilibrium with capacity constraints and restricted mobility: A recursive approach
Camera, Gabriele; Kim, Jaehong - In: Economics Letters 118 (2013) 2, pp. 321-323
-off between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium …
Persistent link: https://www.econbiz.de/10010608098