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A note on the characterization of optimal allocations in OLG economies with multiple goods
Bonnisseau, Jean-Marc; Rakotonindrainy, Lalaina - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2015
We consider a pure exchange overlapping generations economy with finitely many commodities and consumers per period having possibly non-complete non transitive preferences. We provide a geometric and direct proof of the Balasko-Shell characterization of Pareto optimal allocation. To avoid some...
Persistent link: https://www.econbiz.de/10011194459
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Topoloy and economics: the contributions of S. Smale
Chichilnisky, Graciela - 1993
existence of a general economic equilibrium, using topological tools [Von Neumann, 1938]. The work of Stephan Smale follows this … economic equilibrium, the Walrasian equilibrium (Walrus [1874-77]), as formalized by Kenneth J. Arrow and Gerard Debreu [1954 …], and of non-cooperative equilibrium in game theory as formalized by Nash (1950). This article aim to show that topology is …
Persistent link: https://www.econbiz.de/10015259427
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DYNAMIC SELECTION IN NORMAL-FORM GAMES
MEERTENS, MARC; POTTERS, JOS; REIJNIERSE, HANS - In: International Game Theory Review (IGTR) 08 (2006) 03, pp. 395-416
This paper investigates a class of dynamic selection processes for n-person normal-form games which includes the Brown-von Neumann-Nash dynamics. For (two-person) zero-sum games and for (n-person) potential games every limit set of these dynamics is a subset of the set of Nash-equilibria....
Persistent link: https://www.econbiz.de/10005081052
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A Tractable Multi-Leader Multi-Follower Peak-Load-Pricing Model with Strategic Interaction
Grimm, Veronika - 2020
While single-level Nash equilibrium problems are quite well understood nowadays, less is known about multi-leader multi …
Persistent link: https://www.econbiz.de/10012827778
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Shadow Economy Causes Wrong Economic Policy
Georgiou, Miltiades N. - 2018
It is well known that shadow economy has many impacts on the economy and distorts competition. It is also known that shadow economy is hard to restrict without some repercussions regarding unemployment creation, investment distortions, economic growth, income distribution worsening, stock prices...
Persistent link: https://www.econbiz.de/10012928846
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Is There an Optimal Trade-Off Between Shadow Economy and Government Debt to GDP?
Georgiou, Miltiades N. - 2018
Shadow economy is harmful to the economy for various reasons. On the other hand shadow economy restriction has some repercussions. In other words, there is perhaps a sort of trade-off between the restriction of shadow economy and the resulting macroeconomic repercussions. Hence, in the present...
Persistent link: https://www.econbiz.de/10012931119
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On Time Inconsistent Stochastic Control in Continuous Time
Bjork, Tomas - 2017
equilibrium points. For a general controlled continuous time Markov process and a fairly general objective functional we derive an … determination for the equilibrium strategy as well as the equilibrium value function. The main theoretical result is a verification … study of time inconsistency within the framework of a general equilibrium production economy of Cox-Ingersoll-Ross type …
Persistent link: https://www.econbiz.de/10012966786
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Shadow Economy and House Prices : A Panel Data Analysis in EU, USA, Japan
Georgiou, Miltiades N. - 2013
In the present paper an empirical analysis will point out that shadow economy tends to push up house prices, distorting real estate market. The sample covers EU, Japan and The United States. Data are taken from OECD and (Schneider et al., 2010); (Schneider, 2013). The elaboration of these panel...
Persistent link: https://www.econbiz.de/10013071478
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Restricting Shadow Economy versus Macroeconomic Impacts. A Panel Data Analysis in EU, Japan, USA
Georgiou, Miltiades N. - 2013
It seems to be a trade-off between shadow economy restriction and macroeconomic repercussions. This view is expressed by (Era Dabla-Norris and Andrew Feltenstein, 2003) and is in agreement with the author of the present paper although approached in a different way. Author believes that present...
Persistent link: https://www.econbiz.de/10013071570
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Topoloy and economics: the contributions of S. Smale
Chichilnisky, Graciela - Volkswirtschaftliche Fakultät, … - 1993
existence of a general economic equilibrium, using topological tools [Von Neumann, 1938]. The work of Stephan Smale follows this … economic equilibrium, the Walrasian equilibrium (Walrus [1874-77]), as formalized by Kenneth J. Arrow and Gerard Debreu [1954 …], and of non-cooperative equilibrium in game theory as formalized by Nash (1950). This article aim to show that topology is …
Persistent link: https://www.econbiz.de/10005621494