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作者：Zhou, YQ
摘要：In this paper we study the size of the set of equilibria on the pseudo-equilibrium manifold. It is shown that, with incomplete real asset markets, the set of equilibria is an open and dense subset of the pseudo-equilibrium manifold, whose complement is the disjoint union of a finite number of lower dimensional smooth submanifolds. When markets are generically complete, the pseudo-equilibrium manifold with fixed real asset structures is identical to the equilibrium manifold in the Arrow-Debreu ...
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作者：Mariotti, M
摘要：Because in a strategic form game all the possibilities of communication available to the players must be explicitly listed in the strategy spaces, coalitions and coalitional behaviour are not very often taken into account in noncooperative games. However, it may be desirable, especially in applications, to separate the basic strategic features of a situation from those strategic features added as a consequence of the possibility of coalitional behaviour. We define an equilibrium for the bargai...
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作者：Berk, JB
摘要：The general restrictions on all economic primitives (i.e., (a) endowments, (b) preferences, and (c) asset return distributions) that yield the CAPM under the expected utility paradigm are provided. These results are then used to derive the class of restrictions on preferences and the distribution of asset returns alone that provides the CAPM. We also show that the conditions that provide the CAPM and derived preferences over mean and variance are equivalent. Consequently, this paper also resol...
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作者：Cuoco, D
摘要：This paper examines the intertemporal optimal consumption and investment problem in the presence of a stochastic endowment and constraints on the portfolio choices. Short-sale and borrowing constraints, as well as incomplete markets, can be modeled as special cases of the class of constraints we consider. Existence of optimal policies is established under fairly general assumptions on the security price coefficients and the individual's utility function. This result is obtained by using martin...
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作者：Dutta, B; Mutuswami, S
作者单位：California Institute of Technology
摘要：A network is a graph where the nodes represent agents and an are exists between two nodes if the corresponding agents interact bilaterally. An exogeneous value function gives the value of each network, while an allocation rule describes how the value is distributed amongst the agents. M. Jackson and A. Wolinsky (1996, J. Econ. Theory 71, 44-74) have recently demonstrated a potential conflict between stability and efficiency in this framework. In this paper, we use an implementation approach to...
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作者：Anthonisen, N
摘要：The paper considers a fixed normal-form game played among populations of agents where the populations are uncountable. Each agent plays the game in each time period against members of the other populations with whom she is randomly matched. It is shown that the distributions of observations collected by each agent within a population are asymptotically identical. Therefore, if players use learning rules that possess certain basic features (referred to as ''consistency'' and ''exchangeability''...
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作者：Ghiglino, C; Tvede, M
作者单位：Cornell University; University of Copenhagen
摘要：A pure exchange, general equilibrium model is considered and the equilibrium set is studied. It is shown for all total endowments and an open and dense set of preferences that if there are l greater than or equal to 2 commodities and m greater than or equal to 2 consumers then there exists a set of distributions of endowments with nonempty interior such that the associated economies have at least l-1+min{l,m} equilibria For l+min{l,m} even and at least l-2+min{l,m} equilibria for l+min{L,m} od...
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作者：Xue, LC
摘要：This article extends Chwe's (J. Econ. Theory 63 (1994), 299-325) nonemptiness result (Proposition 2) of the largest consistent set by relaxing both conditions of his proposition, including the countability of the set of alternatives. Such an extension enables the largest consistent set to be applied to models (e.g., the Cournot oligopoly model) with continuum of alternatives. (C) 1997 Academic Press.
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作者：Schreft, SL; Smith, BD
作者单位：University of Texas System; University of Texas Austin; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：We consider a monetary growth model in which banks arise to provide liquidity. In addition, there is a government that issues not only money, but interest-bearing bonds; these bonds compete with capital in private portfolios. When the government fixes a constant growth rate for the money stock, we show that there can exist multiple nontrivial monetary steady states. One of these steady states is a saddle, while the other can be a sink. Moreover, paths approaching a steady state can display dam...
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作者：Sonmez, T
摘要：We study manipulation of solutions by hospitals via underreporting their capacities in the context of centralized two-sided matching markets. We show that the solution that is used to match medical interns and hospitals in United States is manipulable in this way. Our main result is that there is no solution that is stable and non-manipulable ria capacities. (C) 1997 Academic Press.
