We consider the mechanism design problem when agents’ types are multidimensional and continuous, and their valuations are interdependent. If there are at least three agents whose types satisfy a weak correlation condition, then for any decision rule and any ε > 0 there exist balanced transfers that render truthful revelation a Bayesian ε-equilibrium. A slightly stronger correlation condition en...

Share equilibrium was introduced in van den Nouweland and Wooders (2011) as an extension of ratio equilibrium to local public good economies. In that paper, we took an axiomatic approach to motivate share equilibrium. In the current paper we consider questions related to the existence of share equilibrium and we derive a necessary and sufficient condition for the existence of share equilibrium ...

This paper addresses the existence of competitive equilibrium in the variant of the Assignment Game where budget-constrained agents are endowed with one good, that can be sold to buy another good. We define the Money Scarcity (MS) condition and its Strong (SMS) and Weak (WMS) versions. The WMS condition ensures the existence of an equilibrium in cases where Quinzii’s indispensability of money a...

Players coordinate continuation play in repeated games with public monitoring. This paper asks the robustness of such equilibrium play with respect to privatemonitoring perturbations that are ex-ante close to the public-monitoring structure. We show that, in two-player games with full support of public signals, no perfect public equilibrium is robust to private-monitoring perturbations under a ...

I propose a generalization of the probabilistic voting model in two-candidate elections. Unlike in all previous works, I assume that the candidates have general von Neumann-Morgenstern utility functions defined over the voting outcomes. For a finite number of voters, I derive necessary and sufficient conditions for the existence of a local Nash equilibrium in which the policy platforms of the c...

In this paper, we present a new result that allows for studying the global stability of disease-free equilibrium point when basic reproduction number is less than 1, in fractional calculus context. The method only involves linear algebra and can be easily applied to study asymptotic stability. After proving some auxiliary lemmas involving Mittag–Leffler function, main paper. Under assumptions, ...

In this paper, we consider the characterization of strong stationary solutions to equilibrium problems with equilibrium constraints (EPECs). Assuming that the underlying generalized equation satisfies strong regularity in the sense of Robinson, an explicit multiplier-based stationarity condition can be derived. This is applied then to an equilibrium model arising from ISO-regulated electricity ...

This paper examines conditions for the uniqueness of an equilibrium price distribution in stochastic macroeconomic models with rational expectations. A model is developed in which many price distributions, each with a finite variance, satisfy the equilibrium requirements of rationality. Hence, the condition that the variance of the equilibrium price distribution be finite, or equivalently, that...