منابع مشابه
Valuation Equilibrium
We introduce a new solution concept for games in extensive formwith perfect information, valuation equilibrium, which is based on a partition of each player’s moves into similarity classes. A valuation of a player is a real-valued function on the set of her similarity classes. In this equilibrium each player’s strategy is optimal in the sense that at each of her nodes, a player chooses a move t...
متن کاملEquilibrium Valuation of Weather Derivatives¤
This paper proposes and implements an equilibrium valuation framework for weather derivatives. We generalize the Lucas model of 1978 to include the weather as a fundamental variable in the economy. The model is specialized to temperature derivatives. Temperature behavior for the period of 1979-1989 is closely studied for ̄ve major cities in the U.S., and a model is proposed for the daily temper...
متن کاملClubs within clubs:
This paper deals with two examples of macro-regions in the EU: the Benelux and the Council of the Baltic Sea States (CBSS). Building on the distinction between “old” and “new” regionalism, it discusses some characteristics of regions in general, and of sub-integration schemes within the EU in particular. These characteristics are applied to the two regions at hand. From this application it foll...
متن کاملAdding clubs with square
We present a technique for destroying stationary subsets of Pκκ using partial square sequences. We combine this method with Gitik’s poset for changing the cofinality of a cardinal without adding bounded sets to prove a variety of consistency results concerning saturated ideals and the set S(κ, κ+). In this paper we continue our study of consistency results concerning the set S(κ, κ) = {a ∈ Pκκ ...
متن کاملPrice taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes
This paper develops a model of an economy with clubs where individuals may belong to multiple clubs and where there may be ever increasing returns to club size. A club is a group of individuals who have formed an organization for the benefit of the group members. Clubs may be large, as large as the total agent set. The main condition required is that sufficient wealth can compensate for members...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 1997
ISSN: 0022-0531
DOI: 10.1006/jeth.1996.2247