The evolution of Walrasian behavior in oligopolies

Article Abstract:

Cournot oligopoly is examined through using a dynamic evolutionary model. This allows Walrasian behavior to be assessed, including Walrasian equilibria.

Oligopolies

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Random fixed points in a stochastic Solow growth model

Article Abstract:

A stochastic presentation of a Solow growth model is examined in detail, and random dynamical systems theory is used to analyse the model, which is compared with Markov equilibria.

Usage, Stochastic analysis, Equilibrium (Economics), Random variables

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Endogenous endowments and equilibrium starvation in a Walrasian economy

Article Abstract:

The presence of Walras equilibria in heterogenous, not automatically, economies, was established. Since the set of potently autarkic economies is a proper subset of the group of heterogenous economies, this presence outcome serves as a generalization of a limiting version of Aumann's theory. The second outcome serve as a generalization of the First Welfare Theorem to unlimited, not automatically heterogenous or even autarkic economies.

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