Sequential Market Structure 首先定义sequential market equilibrium: An allocation ({cti,st+1i}t=0∞)i=1,2 and a sequence of interest rates {r^t+1}t=0∞ constitutes a sequential markets equilibrium if: (1) Given {r^t+1}t=0∞, ({cti,st+1i}t=0∞)i=1,2 solves: max{cti,st+1i...
Therefore, this paper is an attempt to systematize alternative models of the dynamic equilibrium path around which balanced and sometimes dis-balanced markets temporarily converge. In the framework presented here, extrinsic uncertainty...
Incomplete marketsFinancial equilibriumMulti-period modelLong-term assetsWe consider a stochastic financial exchange economy with a finite date-event tree ... JM Bonnisseau,A Chery - 《Annals of Finance》 被引量: 8发表: 2014年 Pecuniary & Market Mediated Externalities: Towards a General Theory of...
Equilibrium locations in a mixed duopoly with sequential entry in real time 来自 EconPapers 喜欢 0 阅读量: 61 作者:C Li,J Zhang 摘要: We investigate a mixed duopoly model where a public firm and a private firm enter a market sequentially over an infinite time horizon, with and without ...
The large seller would like to price the small sellers out of the market by posting a price that is low enough to induce buyers not to purchase from the small sellers. These incentives give rise to a game of cat-and-mouse, whose only equilibrium involves mixed strategies for both the ...
Define nonsequential. nonsequential synonyms, nonsequential pronunciation, nonsequential translation, English dictionary definition of nonsequential. adj not in sequence Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © Harper
Manipulation by an informed trader has been a difficult issue in the literature of market microstructure. This paper presents a model of dynamic informed trading which has a unique equilibrium. This paper considers markets where a risky asset is traded between competitive market makers, informed ...
In equilibrium, sales should take place only in the auction. An experimental test reveals that average buyout prices and profits are well captured by the theoretical prediction. However, a substantial amount of sales takes place before the auction. This is caused by offering (too) low or ...
On the equilibrium proportion of innovation and imitation: A game-theoretic approach A game-theoretic model is developed that analyses firms' decisions concerning innovation and imitation. It is shown that in a game of identical players an ... Thomas,Eger,and,... - 《Economics Letters》 被引量...
On the other hand, if three consecutive candles are white, then the market was in equilibrium at that time (this is a simple upward trend). If the next candlestick is black, the balance is disturbed. If the market moves in a certain range, then it is also in equilibrium. A candle clo...