Abstract We contribute to the field of Ramsey-type equilibrium models with heterogeneous agents. To this end, we state such a model in time-continuous and time-discrete form, which latter case leads finite-dimensional mixed complementarity problem. prove existence solutions problem using theory variational inequalities present further properties its solutions. Finally, compute growth dynamics c...

This paper investigates the Stackelberg equilibrium for pricing and ordering decisions in a multi-channel supply chain. We study a situation where a manufacturer is going to open a direct online channel in addition to n existing traditional retail channels. It is assumed that the manufacturer is the leader and the retailers are the followers. The situation has a hierarchical nature and...

Following Shapley (1976), we study the problem of the existence of a Nash Equilibrium (NE) in which each trading post is either active or “legitimately” inactive, and we call it a Shapley NE. We consider an example of an exchange economy, borrowed from Cordella and Gabszewicz (1998), which satisfies the assumptions of Dubey and Shubik (1978), and we show that the trivial equilibrium, the unique...

It has been shown previously that, for two-sided discrete markets of the kind exemplified by the “marriage problem,” no strategy-proof procedure for aggregating preferences into stable outcomes exists. Here it is shown that (Nash) equilibrium misrepresentation of preferences nevertheless results in a stable outcome in terms of the true preferences when the aggregation procedure yields the optim...

This essay focuses on the balance between governmental control and enterprise autonomy by examining the Norwegian hospital reform. We describe the enterprise model and give a description of the policy instruments that the government, as owner, has for exercising power and control vis-à-vis the health enterprises. How the trade-off between autonomy and control is experienced and practiced is ana...