Under not-too-stringent assumptions this study shows that there exists a generic extensive-form game having no "strategically stable" equilibrium. In addition, it is suggested that careless invocation of "common belief assumption" may be a potential source of inconsistent beliefs for players.

The present paper illustrates the coordination problem with a standard two-person non-cooperative gae, with yields two Nash equilibria in pure strategies, one of which is Pareto dominated by the other.

This paper characterizes two public ownership solutions in convex production economies with multiple inputs and multiple outputs, known respectively as the proportional and equal benefit solutions (Roemer and Silvestre (1989)), by means of axioms of upper and unanimously lower bounds of welfare...