The purpose of this paper is to present a new solution concept of stable equilibrium in beliefs ( SEB) by assuming it is common knowledge that players are uncertainty averse in the sense of Gilboa and Schmeidler (1989. Journal of Mathematical Economics 18, 141–153). By making use of an ...
The nation will maintain basic equilibrium in the balance of payments and better synchronize the income growth of residents and economic growth, they added. The meeting reaffirmed the need to adopt a moderately loose monetary policy next year, including the rollout of rate cuts and cuts in the ...
The nation will maintain basic equilibrium in the balance of payments and better synchronize the income growth of residents and economic growth, they added. The meeting reaffirmed the need to adopt a moderately loose monetary policy next year, including the rollout of rate cuts and cuts in the ...
Discover the latest articles and news from researchers in related subjects, suggested using machine learning. Differential Equations Dynamical Systems Formal Reasoning General Economical Equilibrium Game Theory Multistability Author information Authors and Affiliations Department of Economics, University of...
2001. "Stable Provision vs. Cournot-Nash Equilibrium in Pure Public Good Economies," Journal of Public Economics Theory 3: 219-224.“Stable Provision vs. Cournot-Nash Equilibrium in Pure Public Good Economies - Shitovitz, SpiegelSHITOVITZ, B., and M. SPIEGEL (2001) Stable provision vs. ...
From the expressions for the stable and unstable equilibrium, it appears readily that [14]R=2μc−μ In Figure 1, this quantity is the distance of the unstable steady state, which bounds the basin of attraction of the stable steady state, to the stable steady state. Using expression eqn...
equilibrium with eigenvalues on the unit circle would have to be arbitrarily close to one where the number of jump variables and eigenvalues outside the unit circle do not match up. Likewise, the objective function would also have to be arbitrarily close to its values in these equilibria but ...
Achieving solid superlubricity in high-humidity environments is of great practical importance yet remains challenging nowadays, due to the complex physicochemical roles of water and concomitant oxidation on solid surfaces. Here we report a facile way to
equilibrium correction modelsThe demand for broad money in Venezuela is investigated over a period of financial crisis and substantial exchange rate fluctuations. The analysis shows that there exist a long-run relationship between real money, real income, inflation, the exchange rate and an interest ...
And in the event of a crypto crash, traders tend to exit to fiat currencies, not stablecoins.These systems also need significant bootstrapping of liquidity early on until they can achieve healthy equilibrium. But ultimately, these schemes capitalize on a key insight: a stablecoin is, in the ...