Displaying similar documents to “Incomplete Markets: the concept of generalized equilibrium and its existence theorem.”

Equilibrium search model with endogenous growth rate of human capital

Wansheng Tang, Chi Zhou, Chaoqun Xiao, Ruiqing Zhao (2016)

Kybernetika

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This article studies an equilibrium search problem when jobs provided by firms can be either unskilled or skilled and when workers differing in their education level can be either low-educated or high-educated. The structure proportion of jobs affects the equilibrium which indicates a threshold that can distinguish whether the equilibrium is separating or cross-skill. In addition, the cross-skill equilibrium solution implies the high-educated workers are more likely to obtain higher...

Sur l'équilibre fort selon Berge

Moussa Larbani, Rabia Nessah (2010)

RAIRO - Operations Research

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In this paper we study the main properties of the strong Berge equilibrium, then we prove a theorem of its existence based on the Ky Fan inequality and finally, we provide an algorithm for its determination.

An equilibrium model for electricity auctions

Juri Hinz (2003)

Applicationes Mathematicae

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This work discusses the process of price formation for electrical energy within an auction-like trading environment. Calculating optimal bid strategies of power producers by equilibrium arguments, we obtain the corresponding electricity price and estimate its tail behavior.

Equilibria and strict equilibria of multivalued maps on noninvariant sets

Pierre Cardaliaguet, Grzegorz Gabor, Marc Quincampoix (2003)

Annales Polonici Mathematici

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This paper is concerned with existence of equilibrium of a set-valued map in a given compact subset of a finite-dimensional space. Previously known conditions ensuring existence of equilibrium imply that the set is either invariant or viable for the differential inclusion generated by the set-valued map. We obtain some equilibrium existence results with conditions which imply neither invariance nor viability of the given set. The problem of existence of strict equilibria is also discussed. ...

Complementarities and the existence of strong Berge equilibrium

Kerim Keskin, H. Çağrı Sağlam (2014)

RAIRO - Operations Research - Recherche Opérationnelle

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This paper studies the existence and the order structure of strong Berge equilibrium, a refinement of Nash equilibrium, for . It is shown that the equilibrium set is a nonempty complete lattice. Moreover, we provide a monotone comparative statics result such that the greatest and the lowest equilibria are increasing.