Multiplicity, instability and sunspots in games
Article Abstract:
Market games with two players are considered and both local and global links are established between multiple Nash equilibria, non-trivial correlated equilibria and the absence of convergence of the iterative elimination of dominated strategies. This simultaneous multiplicity, instability and vulnerability to sunspots echoes identical patterns noticed in overlapping generations economies and finite economies with asymmetric data. It also suggests an implicit link between various forms of the indeterminacy of economies and games that crosses the boundaries of any particular structure.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2003
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Imperfect competition a la Negishi, also with fixed costs
Article Abstract:
The existence of imperfect competition equilibria and economies with non-convex technologies is examined. Pricing rules are depended upon, and as according to Negishi, firms maximise profits under downward-sloping perceived demand functions. NegishiEs assumptions are slackened, and existence of equilibria is obtained for production sets consisting of the sum of two convex sets, one of which provides for fixed costs.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2003
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How to share when context matters: the Mobius value as a generalized solution for cooperative games
Article Abstract:
The concept of Mobius value connected to a sharing system is presented and discussed. Shapley value, Quasivalue, the three basic axioms that determine the Mobius value, etc. are discussed.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2005
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