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Bergstrom, Blume and Varian (1986) provides an elegant game-theoretic model of an economy with one private good and one public good. Strategies of players consist of voluntary contributions of the private good to public good production. Without relying on first order conditions, the authors...
Persistent link: https://www.econbiz.de/10015231284
We consider consumers with the same reservation price, who desire to buy at most one unit of a good. Firms compete only in prices but there are other features firms cannot control that would eventually lead an agent to buy in one firm or another. We introduce such uncertainty in a model of a...
Persistent link: https://www.econbiz.de/10015246416
It is an easy task for most commodity spaces, to find examples of strictly monotonic preference relations. For example, in the space of bounded sequences of real numbers. However, it is not easy for spaces like the space of bounded functions defined in the real interval [0, 1]. In this note we...
Persistent link: https://www.econbiz.de/10015216830
The Walrasian model has played a central role in all aspects of economics. The purpose of this paper is to propose a general modeling of differential information in the spirit of the Arrow-Debreu model and following the Radner tradition but away from the usual measurability conception. We...
Persistent link: https://www.econbiz.de/10015245693