Browsing Documentos Indexados pela Web of Science by Subject "Equilíbrio econômico"
Now showing items 1-20 of 22
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Ambiguity aversion in the long run: "to disagree, we must also agree"
2016-09We consider an economy populated by smooth ambiguity-averse agents with complete markets of securities contingent to economic scenarios, where bankruptcy is permitted but there is a penalty for it. We show that if agents' ... -
Catalog competition and Nash equilibrium in nonlinear pricing games
2008-03We model strategic competition in a market with asymmetric information as a noncooperative game in which each seller competes for a buyer of unknown type by offering the buyer a catalog of products and prices. We call this ... -
The costs and benefits of leaving the EU: trade effects
2017-10Sampson and John Van Reenen?> This paper estimates the welfare effects of Brexit in the medium to long run, focusing on trade and fiscal transfers. We use a standard quantitative general equilibrium trade model with many ... -
Cournot-nash equilibria in continuum games with non-ordered preferences
2008-05In the usual framework of continuum games with externalities, we substantially generalize Coumot-Nash existence results [Balder, A unifying approach to existence of Nash equilibria, Int. J.Game Theory 24 (1995) 79-94; On ... -
Determinacy of equilibria in nonsmooth economies
1999-11Concavifiable preferences are representable by a function which is twice differentiable almost everywhere, by theorem of Alexandroff [Alexandroff, A.D., 1939. Almost Everywhere Existence of Second Differentials of Convex ... -
Endogenous mechanisms and nash equilibrium in competitive contracting games
2009-09-20We model strategic competition in a market with asymmetric information as a noncooperative game in which each firm competes for the business of a buyer of unknown type by offering the buyer a catalog of products and prices. ... -
Equilibria in reflexive banach lattices with a continuum of agents
2004-10We consider exchange economies with a measure space of agents and for which the commodity space is a separable and reflexive Banach lattice. Under assumptions imposing uniform bounds on marginal rates of substitution, ... -
Equilibrium with default and endogenous collateral
2000-01We study a two-period general equilibrium model with incomplete asset markets and default. We make collateral endogenous by allowing each seller of assets to fix the level of collateral. Sellers are required to provide ... -
Existence of an equilibrium for infinite horizon economies with and without complete information
2012-08This work proves the existence of an equilibrium for an infinite horizon economy where trade takes place sequentially over time. There exist two types of agents: the first correctly anticipates all future contingent ... -
Financial markets with endogenous transaction costs
2010-10The paper proposes an alternative general equilibrium formulation of financial asset economies with transaction costs. Transaction costs emerge endogenously at equilibrium and reflect agents' decisions of intermediating ... -
General equilibrium with endogenous securities and moral hazard
2005-07This paper studies a class of general equilibrium economies in which the individuals' endowments depend on privately observed effort choices and the financial markets are endogenous. The environment is modeled as a two-stage ... -
General equilibrium, wariness and efficient bubbles
2011-05Wary consumers overlook gains but not losses in remote sets of dates or states. As preferences are upper but not lower Mackey semi-continuous, Bewley's (1972) [4] result on existence of equilibrium whose prices are not ... -
The general existence of extended price equilibria with infinitely many commodities
1994-08This paper deals with the existence of equilibria with infinitely many goods. Its main goal is to show that when restricted to the set of feasible allocations there exists an economically meaningful price (in the sense ... -
Incomplete markets, continuum of states and default
1998-01We show that when bankruptcy, subject to penalties, is allowed, it is possible to prove the existence of equilibrium in a model with a continuum of states without imposing any assumptions on ex-post endowments. -
Inconsequential arbitrage
2000-12We introduce the concept of inconsequential arbitrage and, in the context of a model allowing short-sales and half-lines in indifference surfaces, prove that inconsequential arbitrage is sufficient for existence of ... -
Large economies with differential information and without free disposal
2009-02We consider exchange economies with a continuum of agents and differential information about finitely many states of nature. It was proved in Einy et al. (Econ Theory 18, 321-332, 2001) that if we allow for free disposal ... -
Long-lived collateralized assets and bubbles
2011-05When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents' characteristics. Also, price bubbles are ... -
Non-marketed options, non-existence of equilibria, and non-linear prices
2004-02This paper presents a surprising example that shows that the lattice theoretic properties in Mas-Colell's (1986) seminal work are relevant to the existence of equilibrium even when the commodity space is finite dimensional. ... -
Pure strategy equilibria of single and double auctions with interdependent values
2009-01We prove the existence of monotonic pure strategy equilibrium for many kinds of asymmetric auctions with n bidders and unitary demands, interdependent values and independent types. The assumptions require monotonicity only ...
