Rational expectations equilibria and the ex-post core of an economy with asymmetric information

Article Abstract:

Links between equilibrium allocations with rational expectations and ex-post exchange economy cores are examined, in a model characterized by asymmetric information.

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Edgeworth's conjecture in atomless economies with a non-separable commodity space

Article Abstract:

Using the Edgeworth conjecture in the analysis of atomless economies may result in the establishment of a convexity of closure of aggregate demand set for economies with an atomless measure space of agents and non-separable Dedekind complete Reisz goods space; or establish the Walras equivalence theorem under the assumption of limitations of the set of all individual provisions.

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Convergence of learning algorithms without a projection facility

Article Abstract:

The formal result on the convergence of recursive, stochastic algorithms offers probability boundaries for convergence which may be employed to detail the local stability in the state of process of learning of rational expectations equilibria. The results were obtained sans the addition of a so-called projection facility which a priori constrains appraises to stay in a neighborhood of some specific solution.

Usage, Stochastic approximation

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• Abstracts: Intertemporal recursive utility and an equilibrium asset pricing model in the presence of Levy jumps. Properties of bid and ask reservation prices in the rank-dependent expected utility model

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