Download or read book Implementations of the Nash Solution Based on Its Walrasian Characterization written by Walter Trockel and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present paper provides three different support results for the Nash bargaining solution of $n$-person bargaining games. First, for any bargaining game there is defined a non-cooperative game in strategic form, whose unique Nash equilibrium induces a payoff vector that coincides with the Nash solution of the bargaining game. Next this game is modified in such a way that the unique Nash equilibrium that supports the Nash solution is even in dominant strategies. After that an $n$-stage game in extensive form is presented whose unique subgame perfect equilibrium supports the Nash solution of the bargaining game. Finally, the support results are shown to induce implementation results in the sense of mechanism theory. Keywords and Phrases: Nash solution, Nash-implementation, Mechanism, Walrasian equilibrium.
Download or read book Walrasian Economics written by Donald A. Walker and published by Cambridge University Press. This book was released on 2006-01-16 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: In order to understand the various strands of general equilibrium theory, why it has taken the forms that it has since the time of Léon Walras, and to appreciate fully a view of the state of general equilibrium theorising, it is essential to understand Walras's work and examine its influence. The first section of this book accordingly examines the foundations of Walras's work. These include his philosophical and methodological approach to economic modelling, his views on human nature, and the basic components of his general equilibrium models. The second section examines how the influence of his ideas has been manifested in the theorising of his successors, surveying the models of theorists such as H. L. Moore, Vilfredo Pareto, Knut Wicksell, Gustav Cassel, Abraham Wald, John von Neumann, J. R. Hicks, Kenneth Arrow, and Gerard Debreu. The treatment also examines models of many types in which Walras's influence is explicitly acknowledged.
Download or read book Differential Information Economies written by Dionysius Glycopantis and published by Springer Science & Business Media. This book was released on 2005-12-28 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main problems in current economic theory is to write contracts which are Pareto optimal, incentive compatible, and also implementable as a perfect Bayesian equilibrium of a dynamic, noncooperative game. The question arises whether it is possible to provide Walrasian type or cooperative equilibrium concepts which have these properties. This volume contains original contributions on noncooperative and cooperative equilibrium notions in economies with differential information and provides answers to the above questions. Moreover, issues of stability, learning and continuity of alternative equilibria are also examined.
Download or read book Advances in Public Economics Utility Choice and Welfare written by Ulrich U. Schmidt and published by Springer Science & Business Media. This book was released on 2006-06-28 with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Festschrift in honor ofChristian Seidl combines a group of prominent authors who are experts in areas like public economics, welfare economic, decision theory, and experimental economics in a unique volume. Christian Seidl who has edited together with Salvador Barber` a ` and Peter Hammond the Handbook of Utility Theory (appearing at Kluwer Academic Publishers/Springer Economics), has dedicated most of his research to utility and decision theory, social choice theory, welfare economics, and public economics. During the last decade, he has turned part of his attention to a research tool that is increasingly gaining in importance in economics: the laboratory experiment. This volume is an attempt to illuminate all facets of Christian Seidl’s ambitious research agenda by presenting a collection of both theoretical and expe- mental papers on Utility,Choice,andWelfare written by his closest friends, former students, and much valued colleagues. Christian Seidl was born on August 5, 1940, in Vienna, Austria. Beginning Winter term 1962/63, he studied Economics and Business Administration at the Vienna School of Economics (then “Hochschule fff ̈ ur ̈ Welthandel”). 1966 he was awarded an MBA by the Vienna School of Economics and 1969 a doctoral degree in Economics. In October 1968 Christian became a research assistant at the Institute of Economics at the University of Vienna. 1973 he acquired his habilitation (right to teach) in Economics — supervised by Wilhelm Weber — from the Department of Law and Economics of the University of Vienna. He was awarded the Dr.
Download or read book Social Design written by Walter Trockel and published by Springer. This book was released on 2019-05-30 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains invited essays in memory of Leonid Hurwicz spanning a large area of economic, social and other sciences where the implementation or enforcement of institutions and rules requires the design of effective mechanisms. The foundations of these articles are set by social choice concepts; game theory; Nash, Bayesian and Walrasian equilibria; complete and incomplete information. Besides in-depth treatments of well-established parts of mechanism and implementation theory, contributions on novel directions deal, for instance, with a quantum approach to game and decision making under uncertainty; digitalization; and the design of block chain for trading. The outstanding competence and reputation of the authors reflect the appreciation of the fundamental contributions and the lasting admiration of the personality and the work of Leonid Hurwicz.
Download or read book Nash implementation written by John Moore and published by . This book was released on 1989 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Functional Analysis and Economic Theory written by Yuri Abramovich and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: In July of 1996, the conference Nonlinear Analysis and its Applications in Engineering and Economics took place on the Greek island of Samos, the birthplace of Pythagoras. During this conference, a special session was held on th the occasion of the 50 birthday of the well known mathematician and math ematical economist Professor Charalambos Aliprantis, who, by his numerous friends, is usually called Roko. The story behind this nickname is not quite clear yet; it will be investigated further and will be made public prior to his th 60 birthday. (At this moment we have already found out that it has nothing to do with the famous movie Rocco and his Brothers even though Roko does have two brothers. ) Roko was born on the Greek island of Cephalonia on May 12,1946, and his elementary and secondary school education took place there. At 18 he entered the Mathematics Department at the University of Athens. Upon graduation from the University of Athens he proceeded with his graduate studies at Cal tech, where in 1973 he completed his Ph. D. degree in Mathematics under the supervision of Professor W. A. J. Luxemburg. His research career can be divided into two periods. The first one, till 1981, was devoted entirely to pure mathematics. The other one, after 1981, has been subdivided between pure mathematics and mathematical economics. The main objects of Roko's work in pure mathematics are spaces with order structure (Riesz spaces) and operators acting on them.
Download or read book Partially Honest Nash Implementation written by Michele Lombardi and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Advances in Economic Design written by Murat R. Sertel and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some of the finest and most recent research in economic and political design is presented. Among the authors are several prominent academics as well as many new and promising researchers. They investigate social choice and electoral systems, auctions, matching, bargaining, coalitional stability and efficiency, regulation, the design of rights, mechanisms, games, hierarchies and information. The book is bound to become a standard reference as a collection displaying where we are and where we are going in a broad spectrum of areas in economic design.
Download or read book Mathematical Reviews written by and published by . This book was released on 2003 with total page 1432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Simple Characterizations of the Nash and Kalai Smorodinsky Solutions written by Nejat Anbarci and published by . This book was released on 1999 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study we replace the three standard properties (namely, 'Weak Pareto Optimality', Symmetry', and 'Independence of Equivalent Utility Representations') in the axiomatic characterizations of the Nash and Kalai/Somorodinsky solution concepts. In the characterization of the Nash solution, the 'Midpoint Outcome on a Linear Frontier' property replaces them, and in the characterization of the Kalai/Smorodinsky solution, it is the 'Balanced Focal Point' property that replaces them.
Download or read book A Full Characterization of Nash Implementation with Strategy Space Reduction written by Michele Lombardi and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Annals of Economics and Finance written by and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Theory of Implementation of Socially Optimal Decisions in Economics written by L. Corchon and published by Springer. This book was released on 1996-10-11 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the early seventies, following the pioneering work by Leo Hurwicz, economists have been studying the relationship between socially optimal goals and private self-interest. The task was to reconcile the Utopian and Hobbesian traditions, using game theory to find ways to organise the society that are both socially optimal and incentive compatible. This book provides a succinct and up-to-date account of this vast literature and will be welcomed by students, lecturers and anyone wishing to update their knowledge of the field.
Download or read book Journal of Economic Theory written by Karl Shell and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Discussion Paper written by and published by . This book was released on 1996-02 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of Bargaining written by K. G. Binmore and published by Wiley-Blackwell. This book was released on 1987-01-01 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
