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We state conditions for existence and uniqueness of equilibria in evolu- tionary models with an infinity of locally and globally interacting agents. Agents face repeated discrete choice problems. Their utility depends on the actions of some designated neighbors and the average choice throughout...
Persistent link: https://www.econbiz.de/10008629515
class of population games with random matching. -- evolutionary dynamics ; social interaction ; equilibrium ; interacting …
Persistent link: https://www.econbiz.de/10003952950
, in theory, lead to a Correlated Equilibrium that can improve the overall payoffs of the agents. Here we explore whether … coordinate, often in complex ways, even without an external signal. Furthermore, when a signal is present, Correlated Equilibrium …
Persistent link: https://www.econbiz.de/10011515836
Multiplicity of equilibria is a common problem in many economic models. In general, it is impossible to devise methods that always find all equilibria for any type of model. A notable exception are models in which all equilibria are solutions to a system of polynomial equations since there are...
Persistent link: https://www.econbiz.de/10014025711
basic thrust of this paper is to evaluate monetary policy - tradeoffs using a dynamic stochastic general equilibrium …
Persistent link: https://www.econbiz.de/10011108535
This paper examines the equilibrium correspondence in Arrow-Debreu exchange economies with semi-algebraic preferences …
Persistent link: https://www.econbiz.de/10012726584
-justified equilibria (USJE)---temporary equilibria for which forecasts are best uniform approximations to a selection of the equilibrium …
Persistent link: https://www.econbiz.de/10013309826
The relationship between our general equilibrium model with multi- member households and club models with multiple … private goods is investigated. The main distinction in the definitions consists of the equilibrium concepts. As a rule …
Persistent link: https://www.econbiz.de/10011753174
The relationship between our general equilibrium model with multi- member households and club models with multiple … private goods is investigated. The main distinction in the definitions consists of the equilibrium concepts. As a rule …
Persistent link: https://www.econbiz.de/10008732395
one-commodity setup (pure distributive social system). Non-cooperative distributive equilibrium is characterized, and its …
Persistent link: https://www.econbiz.de/10014023678