Bounded rational learning in differential information economies: core and value
Article Abstract:
The evolution of private core and private value allocations as individuals acquire information through time was examined via application of the private core and the private value to a dynamic economy. A limit of full information economy was defined in addressing issues on a subsequence that converges to a private core (value) x allocation and on a sequence xte of approximate private core (value) allocations. The results suggested that the approximate notions considered can be viewed as the errors made by agents because of bounded rationality.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 1999
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Debt contracts and cooperative improvements
Article Abstract:
A thorough discussion of such concepts as coalitional perfect Bayesian Nash equilibrium, cooperative and non-cooperative games and debt contract is provided. The existence of efficient equilibriums is proven. It is suggested that deterministic debt contracts are optimal for a general class of economies.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2005
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An equivalence theorem for a differential information economy
Article Abstract:
The development of an equivalence theorem for a differential information economy is attempted. The deterministic Arrow-Debreu-McKenzie model is a special case of the differential information economy model.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2005
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- Abstracts: Existence and properties of a value allocation for an economy with differential information. Uniform continuity of information combination: a corrigendum
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