Learning by imitation

Article Abstract:

Imitation in recursive dynamic games was explored using a learning algorithm. In this algorithm, imitation was treated as an additional channel for learning, permitting the examination of its effect on social convergence to the theoretical Markov-Nash equilibrium, as well as imitation's effect on the suboptimal behavior of agents. Results showed that the probability of convergence to equilibrium increased as the incentives for optimal play become more pronounced.

Models, Analysis, Money, Learning models (Stochastic processes), Mathematical optimization, Optimization theory, Stochastic models

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Existence of competitive equilibrium under financial constraints and increasing returns

Article Abstract:

In a competitive set up, equilibrium exists under increasing returns with firm type agents making profits at all times. Even under increasing returns to scale in production, price taking equilibrium may exist in a dynamic model with finance constraints. In a short lived economy, a significant positive amount of profits may remain to firm owners in general equilibrium and profit shrinks to a small but positive amount.

Profit margins

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Risk sharing through financial markets with endogenous enforcement of trades

Article Abstract:

A study is conducted by Lindahl-quilibrium for financing public goods, to examine the risk sharing in through financial markets.

Canada, Germany, Venture Analysis, Risk assessment, Financial markets

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