The core of the inductive limit of a direct system of economies with a communication structure

Article Abstract:

The core of the inductive limit of a direct system of economies with a communication structure was investigated. The induced topology on the inductive limit of a direct system of topological spaces was utilized. Empirical evidence suggests that the core of the inductive limit of a direct system of economies with a communication structure is not empty. Furthermore, the core becomes smaller as communication becomes larger and that the dual notion of an inductive limit is the projective limit.

Econometrics & Model Building, Economics, Econometrics, Externalities (Economics), Communication, Communications, Business models

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Undiscounted equilibrium payoffs of repeated games with a continuum of players

Article Abstract:

The set of equilibrium payoffs of a repeated game is characterized. The game features a large number of players who are individually insignificant and players employ as the overall payoff of the repeated game the long-run average of one-shot-game payoffs. The case is seen as possibly offering insights not obtainable elsewhere about far-sighted players. The concept of limit medial of Meyer is used in definitiion of the infinitely-repeated game.

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Existence and local stability of Pareto superior reaction function equilibria in discounted supergames

Article Abstract:

Demonstration is presented for existence of locally asymptotically stable subgame perfect reaction function equilibria (RFE) for n-player discounted supergames. Key to proof of the equilibrium existence is benefit denial. Reaction functions are said to provide insight into dynamic stability for small movements about an equilibrium, an issue that is difficult to deal with in general strategies. Abreu's model is examined.

Functions, Continuous, Continuous functions

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