Markets with heterogeneous beliefs: A necessary and sufficient condition for a trader to vanish

A Necessary and Sufficient Condition for Transcendency

As has been known for many years (see, e.g., K. Mahler, /. Reine Angew. Math., v. 166, 1932, pp. 118-150), a real or complex number f is transcendental if and only if the following condition is satisfied. To every positive number co there exists a positive integer n and an infinite sequence of distinct polynomials {p,(z)} = {pr + pr z + • • • + p z } at most of 0 1 n degree n with integral coef...

A Necessary and Sufficient Condition for Peace∗

This paper examines the possibility for two contestants to agree on a peace settlement thereby avoiding a contest, in which each would exert a costly effort given the posterior distributions inferred from the negotiation. I find a necessary and sufficient condition of the prior distributions for there to exist a negotiation mechanism that admits a peace-ensuring perfect Bayesian equilibrium. Th...

a comparison of teachers and supervisors, with respect to teacher efficacy and reflection

supervisors play an undeniable role in training teachers, before starting their professional experience by preparing them, at the initial years of their teaching by checking their work within the proper framework, and later on during their teaching by assessing their progress. but surprisingly, exploring their attributes, professional demands, and qualifications has remained a neglected theme i...

A Necessary and Sufficient Condition for the Existence of Potential Functions for Heterogeneous Routing Games

We study a heterogeneous routing game in which vehicles might belong to more than one type. The type determines the cost of traveling along an edge as a function of the flow of various types of vehicles over that edge. We relax the assumptions needed for the existence of a Nash equilibrium in this heterogeneous routing game. We extend the available results to present necessary and sufficient co...

A Necessary Condition for Weyl-Heisenberg Frames