We show the existence of a pure strategy, symmetric, increasing equilibrium in double auction markets with correlated private valuations and many participants. The equilibrium we find is arbitrarily close to fully revealing as the market size grows. Our results provide strategic foundations for price-taking behavior in large markets. JEL Classification: C62, C72, D44, D82

I propose a simple simulation procedure for large games with multiple equilibria. The simulation procedure is based on a best-response dynamic. The implied equilibrium selection mechanism is intuitive: more stable equilibria are selected with higher probability. JEL Codes: C62, C72, C73

The paper proposes an Euler equation technique for analyzing the stability of differentiable stochastic programs. The main innovation is to use marginal reward directly as a Foster–Lyapunov function. This allows us to extend known stability results for stochastic optimal growth models, both weakening hypotheses and strengthening conclusions. JEL classification: C61; C62; O41

In this paper, we provide an alternative definition of NTU convexity, strongly ordinal convexity. We show that if a game is strongly ordinal convex, then any marginal worth vector is in the core, and any marginal contribution is increasing. Some economic examples satisfy this convexity. KeywordsCooperative game; Convex game; NTU game; Core; Supermodularity JEL classification codes: C62; D52; D53

Competitive equilibria are shown to exist in two-object exchange economies with indivisibilities and additive complementarities in agent valuations between objects, provided that complementarities are common across agents. We further investigate whether the competitive equilibrium can be obtained as an outcome of a simultaneous English-type auction mechanism under non-strategic (honest) bidding...

We are concerned with the problem of core membership testing for hedonic coalition formation games, which is to decide whether a certain coalition structure belongs to the core of a given game. We show that this problem is co-NP complete when players’preferences are additive. JEL Classi…cation : C71, C63.

We provide a computable algorithm to calculate uniform ε-optimal strategies in two-player zero-sum stochastic games. Our approach can be used to construct algorithms that calculate uniform ε-equilibria and uniform correlated ε-equilibria in various classes of multi-player non-zero-sum stochastic games. JEL codes: C63, C73.