Equilibrium existence results for economies with price rigidities?

We define the model of an abstract economy with differential (asymmetric) information and a measure space of agents. We generalize N. C. Yannelis's result (2007), considering that each agent is characterised by a random preference correspondence instead of having a random utility function. We establish two different equilibrium existence results.

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A Unifying Pair of Cournot–Nash Equilibrium Existence Results

Journal of Economic Theory ◽

10.1006/jeth.2001.2849 ◽

2002 ◽

Vol 102 (2) ◽

pp. 437-470 ◽

Cited By ~ 32

Author(s):

Erik J. Balder

Keyword(s):

Nash Equilibrium ◽

Existence Results ◽

Equilibrium Existence

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Equilibrium of a production economy with non-compact attainable allocations set

Advances in Nonlinear Analysis ◽

10.1515/anona-2017-0234 ◽

2018 ◽

Vol 8 (1) ◽

pp. 979-994 ◽

Cited By ~ 2

Author(s):

Senda Ounaies ◽

Jean-Marc Bonnisseau ◽

Souhail Chebbi

Keyword(s):

Fixed Point Theorems ◽

Short Selling ◽

Existence Results ◽

Attainable Sets ◽

Equilibrium Existence ◽

Production Economy ◽

Attainable Set ◽

Production Sector ◽

General Preferences ◽

Previous Existence

Abstract In this paper, we consider a production economy with an unbounded attainable set where the consumers may have non-complete non-transitive preferences. To get the existence of an equilibrium, we provide an asymptotic property on preferences for the attainable consumptions and we use a combination of the nonlinear optimization and fixed point theorems on truncated economies together with an asymptotic argument. We show that this condition holds true if the set of attainable allocations is compact or, when the preferences are representable by utility functions, if the set of attainable individually rational utility levels is compact. This assumption generalizes the CPP condition of [N. Allouch, An equilibrium existence result with short selling, J. Math. Econom. 37 2002, 2, 81–94] and covers the example of [F. H. Page, Jr., M. H. Wooders and P. K. Monteiro, Inconsequential arbitrage, J. Math. Econom. 34 2000, 4, 439–469] when the attainable utility levels set is not compact. So we extend the previous existence results with non-compact attainable sets in two ways by adding a production sector and considering general preferences.

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Deep Habits, Price Rigidities and the Consumption Response to Government Spending

SSRN Electronic Journal ◽

10.2139/ssrn.2351642 ◽

2013 ◽

Cited By ~ 3

Author(s):

Punnoose Jacob

Keyword(s):

Government Spending ◽

Price Rigidities

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Existence of Gibbs point processes with stable infinite range interaction

Journal of Applied Probability ◽

10.1017/jpr.2020.39 ◽

2020 ◽

Vol 57 (3) ◽

pp. 775-791

Author(s):

David Dereudre ◽

Thibaut Vasseur

Keyword(s):

Point Processes ◽

Existence Results ◽

Pairwise Interaction ◽

Range Interaction ◽

Pairwise Interactions ◽

Gibbs Point Processes ◽

Infinite Range Interactions ◽

Finite Configuration ◽

Multi Body ◽

Infinite Range

AbstractWe provide a new proof of the existence of Gibbs point processes with infinite range interactions, based on the compactness of entropy levels. Our main existence theorem holds under two assumptions. The first one is the standard stability assumption, which means that the energy of any finite configuration is superlinear with respect to the number of points. The second assumption is the so-called intensity regularity, which controls the long range of the interaction via the intensity of the process. This assumption is new and introduced here since it is well adapted to the entropy approach. As a corollary of our main result we improve the existence results by Ruelle (1970) for pairwise interactions by relaxing the superstabilty assumption. Note that our setting is not reduced to pairwise interaction and can contain infinite-range multi-body counterparts.

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