Equilibrium Wage Distributions [PDF]
This paper analyzes equilibrium in labor markets with costly search. Even in steady state equilibrium, identical labor may receive different wages; this may be the case even when the only source of imperfect information is the inequality of wages which ...
Joseph E. Stiglitz
core
Decentralization of the core through Nash equilibrium [PDF]
We show that in large finite economies, core allocations can be approximately decentralized as Nash (rather than Walras) equilibrium. We argue that this excrcise is an essential complement to asymptotic core equivalence results, because it implies that ...
KOUTSOUGERAS, Leonidas, ZIROS, Nicholas
core
Higher-Order Optimality Conditions in Set-Valued Optimization with Respect to General Preference Mappings. [PDF]
Set Valued Var Anal, 2022 Michalak A, Studniarski M.
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Externalities, Monopoly and the Objective Function of the Firm [PDF]
This paper provides a theory of general equilibrium with externalities and/or monopoly. We assume that the firm's decisions are based on the preferences of shareholders and/or other stakeholders.
Frank Milne, David Kelsey
core
Paradoxes of Perfect Foresight in General Equilibrium Theory
Intertemporal General Equilibrium Theory cannot be used to settle the Capital Controversy. The device of using dated commodities to avoid dynamic analysis excludes, artificially, strategic behaviour. The auctioneer plays an unsuspectedly stronger role in
Johnson, Joseph
core
On the Right Side for the Wrong Reason : Friedman on the Marshall-Walras divide [PDF]
The aim of this article is to assess Friedman’s claim, put forward in his 1949 article on the Marshallian demand curve, that there is a methodological divide between the Marshallian and Walrasian approaches.
Michel, DE VROEY
core
The impact of environmental regulations on the location choice of newly built polluting firms: based on the perspective of new economic geography. [PDF]
Environ Sci Pollut Res Int, 2022 Peng N, Zhang X.
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Cournot-Walras equilibrium as a subgame perfect equilibrium [PDF]
In this paper, we investigate the problem of the strategic foundation of the Cournot-Walras equilibrium approach. To this end, we respecify à la Cournot-Walras the mixed version of a model of simultaneous, noncooperative exchange, originally proposed by
Busetto, Francesca +2 more
core
Examining industrial air pollution embodied in trade: implications of a hypothetical China-UK FTA. [PDF]
Environ Dev Sustain, 2022 Zhang YW +9 more
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