This paper explores risk-sharing and equilibrium in a general equilibrium set-up wherein agents are non … probability. Hence, optimal allocations are comonotone. This enables us to study the equilibrium set. When agents have different … the convex transform of some probability distribution. Comonotonicity of Pareto-optima is also shown to be true in the two …

This paper explores risk-sharing and equilibrium in a general equilibrium set-up wherein agents are non … probability. Hence, optimal allocations are comonotone. This enables us to study the equilibrium set. When agents have different … the convex transform of some probability distribution. comonotonicity of Pareto-optima is also shown to be true in the two …

This paper explores risk-sharing and equilibrium in a general equilibrium set-up wherein agents are non … probability. Hence, optimal allocations are comonotone. This enables us to study the equilibrium set. When agents have different … convex transform of some probability distribution. comonotonicity of Pareto-optima is also shown to be true in the two …

well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …

comonotonicity condition. The goal of the paper is to generalize the comonotone dominance principle as well as the equivalence … between efficiency and comonotonicity to the multidimensional case. The multivariate case is more involved (in particular … because there is no immediate extension of the notion of comonotonicity), and it is addressed by using techniques from convex …

comonotonicity condition. The goal of the paper is to generalize the comonotone dominance principle as well as the equivalence … between efficiency and comonotonicity to the multidimensional case. The multivariate case is more involved (in particular … because there is no immediate extension of the notion of comonotonicity), and it is addressed by using techniques from convex …

well known refinements of the Nash equilibrium, namely, perfect Nash equilibrium and proper Nash equilibrium, are special … Nash equilibrium is shown to exist for every game. In symmetric bimatrix games, our results imply the existence of a … symmetric proper equilibrium. Applying our results to the field of evolutionary game theory yields a refinement of the …

/implications - For some values of a parameter there is a locally stable equilibrium which is the value that maximizes the profit function …. Increasing these values, the equilibrium becomes unstable, through period-doubling bifurcation. Originality/value - The result …

Since Leon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the … the 'data requirement' precludes all attempts at the empirical verification of the existence of a stable equilibrium. If …