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...

This paper presents an algorithm for computing an equilibrium of an extensive two-person game with perfect recall. The method is computationally efficient by virtue of using the sequence form, whose size is proportional to the size of the game tree. The equilibrium is traced on a piecewise...

This paper studies the stability of communication protocols that deal with transmission errors. We consider a coordination game between an informed sender and an uninformed decision maker, the receiver, who communicate over a noisy channel. The sender's strategy, called a code, maps states of...