In this paper, the standard two-period general equilibrium model with incomplete financial markets is considered. First, existence of equilibrium is proved using a stationary point argument on the set of no-arbitrage prices. Prices are normalized with respect to the market portfolio. The proof...

We study cooperative games with transferable utility and limited cooperation possibilities. The focus is on communication structures where the set of players forms a circle, so that the possibilities of cooperation are represented by the connected sets of nodes of an undirected circular graph....

We show that the Copeland solution is equivalent to the minisum principle which requires to choose the candidate(s) who beat all remaining contenders in the smallest total number of steps.

In the literature, various models of games with restricted cooperation can be found. In those models, instead of allowing for all subsets of the set of players to form, it is assumed that the set of feasible coalitions is a subset of the power set of the set of players. In this paper, we...

This paper analyzes the problem of selecting a set of items whose prices are to be updated in the next iteration in so called simple ascending auctions with unit-demand bidders. A family of sets called "sets in excess demand" is introduced, and the main results demonstrate that a simple...