Results 261 to 270 of about 507,489 (304)

General Equilibrium with Imperfect Competition

Journal of the European Economic Association, 2006
The objective of a firm is not well-defined if firms have market power. We present an example of Cournot-Walras competition in order to shed light on this problem and to motivate the concept of real wealth maximization that B. Grodal and E. Dierker have proposed as the firm's objective. (authors' abstract)
Dierker, Egbert, Dierker, Hildegard
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Competitive Equilibrium with Debt

Journal of Financial and Quantitative Analysis, 2007
AbstractThis paper studies the interaction among financing, entry, and exit decisions of firms in a competitive industry subject to aggregate uncertainty. In contrast to Fries, Miller, and Perraudin (1997), I do not assume that a firm in default leaves the industry immediately.
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Competitive Search Equilibrium

Journal of Political Economy, 1997
In this paper, I construct an equilibrium for markets with frictions, which is competitive in the sense that all agents are price takers and maximize utility subject to a set of market parameters. I show that the equilibrium allocation is socially optimal.
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Arbitrage and the Existence of Competitive Equilibrium

Econometrica, 1987
The existence of an equilibrium is proved in an economy where the consumption sets are not bounded from below. When consumption sets are not bounded from below, it is possible that, at some nonnegative price vector, the budget set does not contain a maximal element, because any level of utility is attainable.
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Uncertainty, Prediction, and Competitive Equilibrium

The Quarterly Journal of Economics, 1961
I. Introduction, 41. — II. The equilibrium of the competitive firm, 42; the cost of uncertainty, 42; the economics of prediction, 46; prediction and profit, 48; prediction and supply, 51. — III. The equilibrium of the competitive industry, 54; prediction and profit in a closed industry, 55; prediction and economic equilibrium in an open industry, 58 ...
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Competitive Equilibrium Under Uncertainty

Econometrica, 1968
Summary: This paper explores how far one can go in applying the modern theory of competitive equilibrium to the case of uncertainty. In the first part, the analyses of Arrow and Debreu are extended to the case in which different economic agents may have different information about the environment. The second part deals with the limitations of the Arrow-
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Competitive equilibrium with intuitionistic agents

Synthese, 2010
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Connective stability of competitive equilibrium

Automatica, 1975
The purpose of this paper is to derive necessary and sufficient conditions for connective stability of non-linear matrix systems described by the equation [email protected]? = A(t, x) x, where the matrix A(t, x) has time-varying nonlinear elements. The obtained results can be used to study stability of competitive equilibrium in as diverse fields as ...
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A Note on Equilibrium in Monopolistic Competition

Journal of Political Economy, 1974
Two major results obtained in Chamberlinian monopolistic competition are (a) in the long-run equilibrium the firm earns only normal profits; and (b) it has excess capacity, that is, the firm produces in the range of declining average costs. This paper emphasizes the importance of shortrun fixed cost of product differentiating, such as store location ...
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Fragility of competitive equilibrium with risk of default

Review of Economic Dynamics, 2013
Abstract We study competitive equilibrium in sequential economies under limited commitment. Default induces permanent exclusion from financial markets and endogenously determined solvency constraints prevent debt repudiation. Our analysis shows that such an enforcement mechanism is essentially fragile, leading to equilibrium multiplicity.
Gaetano Bloise, Mario Tirelli, REICHLIN, PIETRO   +2 more
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