Now showing items 1-3 of 3

    • General equilibrium, wariness and efficient bubbles 

      Araújo, Aloísio Pessoa de; Novinski, Rodrigo; Pascoa, Mario Rui
      2011-05
      Wary 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 ...
    • Monopoly rents in contestable markets 

      Braido, Luís Henrique Bertolino; Shalders, Felipe Leon Peres Camargo
      2015-05
      Random choices of prices and product characteristics can be used by a contestable monopolist to deter entry and fully extract the monopoly rent. We develop this idea in a model of Bertrand price competition. In equilibrium, ...
    • Recursive equilibrium with Price Perfect Foresight and a minimal state space 

      Raad, Rodrigo Jardim
      2016-01
      This paper analyzes general equilibrium models with finite heterogeneous agents who anticipate future prices through a price expectation function with or without accuracy. I show the existence of a recursive equilibrium ...