Modeling long-term impacts of the COVID-19 pandemic and oil price declines on Gulf oil economies. [PDF]
Econ Model, 2022 Shehabi M.
europepmc +1 more source
Mixed motives in a Cournot game [PDF]
The paper analyzes a Cournot model with two types of firms: Maximizers of profits and maximizers of relative payoffs. It is shown that the equilibrium is located somewhere between the regular Cournot-Nash equilibrium and the competitive Walrasian (or ...
Thomas Riechmann
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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
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Searching where the Light Is: Connecting Theory and Policy in Economics [PDF]
In this paper I discuss economist’s tendency to do abstract theory, and suggest an alternative way of relating theory and policy that I provides a much more positive spin on mainstream economists’ tendency toward abstract theorizing than that given it by
David Colander
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Money as Friction: Conceptual Dissonance in Woodford's Interest and Prices [PDF]
In Interest and Prices Woodford employs a frictionless model to derive nominal interest rate rules that can be applied by central banks to achieve price level stability.
Colin Rogers
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Indivisibilities in Investment and the Role of a Capacity Market
, 2023 Stevens N, Smeers Y, Papavasiliou A.
europepmc +1 more source
Learning rationality, the stability of equilibrium and macroeconomics [PDF]
A review of the literature concerning how individuals learn to form rational expectations and a discussion of the meaning of rationality in a macroeconomy characterized by highly decentralized markets.Macroeconomics ; Rational expectations (Economic ...
John B. Carlson
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Using COVID-19 mortality to select among hospital plant capacity models: An exploratory empirical application to Hubei province. [PDF]
Technol Forecast Soc Change, 2021 Kerstens K, Shen Z.
europepmc +1 more source
An Ascending Multi-Item Auction with Financially Constrained Bidders [PDF]
A number of heterogeneous items are to be sold to a group of potential bidders. Every bidder knows his own values over the items and his own budget privately. Due to budget constraint, bidders may not be able to pay up to their values.
Gerard van der Laan, Zaifu Yang
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Did the market-clearing postulate pre-exist new classical economics ? The case of Marshallian theory [PDF]
Have new classicists invented market clearing or have they rehabilited it ? This is the question addressed in the present paper. It is generally agreed that market clearing underpins Walrasian theory, so my exploration is limited to the question of ...
Michel, DE VROEY
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