Titlebook: Equilibrium and Dynamics; Essays in Honour of Mukul Majumdar (H. T. Warshow and Robert Irving Wa Book 1992 Mukul Majumdar 1992 economic th

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A Note on Optimal Development in a Multi-sector Nonconvex Economy,sed in obtaining the final result’. Both in (1) and (3), Gale’s emphasis was on developing a ‘duality’ theory (involving an appropriate Kuhn-Tucker theorem) linking optimally with competitive prices relative to which suitable profit and utility maximisation take place along an optimal programme.

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Krista Garcia,Eileen M. Crimminsnd then to construct a procedure whereby an equilibrium can be reached in an auction. The latter in fact generalises a ‘multi-item auction’ for the linear homogeneous case by Demange, Gale and Sotomayor (1986).

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Sutirtha Bandyopadhyay,Soham Sahoo level of debt service). In what follows, a number of issues will be pursued in simple partial equilibrium frameworks, where the outcome resulting from an action is subjected to exogenous random shocks.

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David W. Smith,Stephanie L. McFall, perhaps the most basic question about equilibrium — existence — is best answered in generic terms. Second, in other formulations of the model (e.g., where nominal yields are taken to be exogenous to the markets under consideration), perhaps the most critical property of equilibrium, multiplicity (

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https://doi.org/10.1007/978-3-030-83225-4 that when the gains from preemption are small, there is a continuum of equilibria in which firms adopt jointly at some later date. Farrell and Saloner obtain a similar result, only in their case the preferred outcome is that neither firm ever adopts.

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https://doi.org/10.1007/978-81-322-2123-4two goods, two consumers, one nonconvex firm and a rule for distributing income, which has two equilibria both of which are .. To be sure, there exist some income distributions such that at least one associated equilibrium is efficient; this follows from the second welfare theorem which is still val