Retrading in market games

Article Abstract:

The issue of retrading that allows traders to approximate allocations on the Pareto frontier is focused. Myopic retrading is supported along with retrade-proof subgame equilibrium path by converging sequence of allocations in the non-cooperative market game of exchange.

Forecasts, trends, outlooks, Forecasts and trends, Market trend/market analysis

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Non-existence of recursive equilibria on compact state spaces when markets are incomplete

Article Abstract:

One-good exchange economies with two infinitely lived agents and incomplete markets are analyzed. It is seen that there is non-existence of recursive (Markov) equilibria with respect to perturbations of endowments.

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The evolution of exchange

Article Abstract:

The evolution of strategies in games using the stochastic stability approach is presented. Stochastic stability is applied to general exchange economies endowing the housing market with a dynamic process.

Economics, Economic theory

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