The market game: existence and structure of equilibrium

Article Abstract:

The Nash equilibrium in a strategic market game of the canonical type is analyzed. The market game simulates a pureexchange economy without mathematical inessentials and assymetries. The offer- constrained game is used to prove that the set of interior Nash equilibrium strategies is finite and nonempty and can, therefore, be parametrized by the dimensional vector of offers. The manifold of Nash equilibrium allocations in allocation space has a generic dimension that is the same as the dimension of the set of feasible allocations.

Monopolistic competition

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The Local Stability of an Open-Loop Nash Equilibrium in a Finite Horizon Differential Game

Article Abstract:

A finite time differential game is developed as a model for Nash Equilibria in some economic processes. The Cournot-Nash adjustment function provides asymptotically stable equilibria. A larger discount rate produces a less stable process.

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An equilibrium in dynamic models of a linearly homogenous economy

Article Abstract:

Research describing a scientific way of determining levels of equilibrium in dynamic economic models is presented. Particular attention is given to linearly homogenous economies and to the use of the models in processes of budget forming.

Usage, Linear models (Statistics)

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