Star-shapedness of Richter-Aumann integral on a measure space with atoms: Theory and economic applications

Article Abstract:

The study conducted provides sufficient conditions for the integral of a correspondence defined on a measure space with atoms to exhibit star-shaped values. The results of the study is used to analyze the existence of a Nash equilibrium in games with a measure space of agents with atoms and of a competitive equilibrium in economies with mixed markets.

Forecasts, trends, outlooks, Forecasts and trends, Economic conditions, Market trend/market analysis

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Wages and productivity growth in a competitive industry

Article Abstract:

The evolution of productivity growth in a competitive industry with free entry and exit is described. A unique steady state of the industry dynamics, which is globally asymptotically stable, is provided in addition to the industry's adjustment path.

Growth, Wages, Industrial productivity, Corporate growth, Industry growth, Company growth, Salary, Productivity

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Nonlinear incentive provision in Walrasian markets: A Cournot convergence approach

Article Abstract:

The study presents Cournot convergence in a system of contingent-claims markets with moral hazard. The other agents condition their expectations on market prices, as in models of rational-expectations equilibrium with asymmetric information.

Market Research, Market Research & Product Development, Marketing research, Walrasian model

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