Nonemptiness of the largest consistent set

Article Abstract:

A study extended a theory by author M.S.-Y. Chwe that the largest consistent set, which is a solution concept applicable to social environments where coalitions can freely form without binding agreements, act publicly and are farsighted, is non-empty for a broad variety of social environments. A study extended Chwe's non-emptiness result of the largest consistent set by relaxing the two conditions of his proposition. to considerably enlarge the domain where the largest consistent set can be applied.

Decision-making, Models, Decision making, Choice (Psychology), Game theory

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The speed of information revelation in a financial market mechanism

Article Abstract:

The accuracy of information and the existence of 'noise' or useless information in a financial market affect the rate at which such information influences the price of an asset. Also, the presence of market makers and limit orders affects risk averse agents. A competitive risk-neutral market may increase the information and speed up the price convergence process.

Research, Analysis, Risk (Economics), Economics, Financial markets, Information theory, Information theory in economics

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