Title: "Nice'' trivial equilibria in strategic market games
Abstract: An example of an exchange economy is provided, satisfying all of the assumptions of Dubey and Shubik (1978), for which the trivial Nash equilibrium is the unique equilibrium point of the associated market game. From this example, we are led to propose an argument, related to the intensity of competition, explaining whv there could be no trade at an equilibrium point. (C) 1998 Academic Press.
Publication Year: 1998
Publication Date: 1998-01-01
Language: en
Type: preprint
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