We study symmetric information games where a number of senders choose what information to communicate. We show that the impact of competition on information revelation is ambiguous in general. We then identify a condition on the information environment (i.e., the set of signals available to each sender) that is necessary and sufficient for equilibrium outcomes to be no less informative than the...

We consolidate and generalize some results on price determination and ef®ciency in search equilibrium. Extending models by Rubinstein and Wolinsky and by Gale, heterogeneous buyers and sellers meet according to a general matching technology and prices are determined by a general bargaining condition. When the discount rate r and search costs converge to 0, we show that prices in all exchanges a...

Dynamic auctions are trading mechanisms for discovering market-clearing prices and efficient allocations based on price adjustment processes. This paper studies the computational issues of dynamic auctions for selling multiple indivisible items. Although the decision problem of efficient allocations in a dynamic auction in general is intractable, it can be solved in polynomial time if the econo...

In this paper, without assuming strict positivity of amplifier functions, boundedness of activation functions, or symmetry of the connection matrix, dynamical behaviors of delayed Cohen-Grossberg neural networks with nonnegative equilibria are studied. Based on the theory of the nonlinear complementary problem (NCP), a sufficient condition is derived guaranteeing the existence and uniqueness of...

A discrete public good is provided when total contributions exceed the contribution threshold, yet the threshold is often not known with certainty. I show that the relationship between the degree of threshold uncertainty and equilibrium contributions and welfare is not monotonic. For a large class of threshold probability distributions, equilibrium contributions will be higher under increased u...

The asymptotic behavior of the principal eigenvalue for general linear cooperative elliptic systems with small diffusion rates is determined. As an application, we show that if a cooperative system of ordinary differential equations has a unique positive equilibrium which is globally asymptotically stable, then the corresponding reaction-diffusion system with either the Neumann boundary conditi...

A discrete time tâtonnement process is presented for reaching an equilibrium of an exchange economy. The process is based on updating the prices in proportion to excess demands of the commodities such that the new prices are positive and their changes are bounded. Global convergence conditions for the process are given and convergence is shown when the excess demand function has the gross subst...

Lie symmetries for ordinary differential equations are studied. In systems of ordinary differential equations, there do not always exist non-trivial Lie symmetries around equilibrium points. We present a necessary condition for existence of Lie symmetries analytic in the neighbourhood of an equilibrium point. In addition, this result can be applied to a necessary condition for existence of a Li...

We discuss an analytically tractable discrete-time dynamic game in which a finite number of players extract a renewable resource. We characterize a symmetric Markov-perfect Nash equilibrium of this game and derive a necessary and sufficient condition under which the resource does not become extinct in equilibrium. This condition requires that the intrinsic growth rate of the resource exceeds a ...

We explore the mechanism responsible for the ergodicity breaking in systems with long-range forces. In thermodynamic limit such systems do not evolve to the Boltzmann-Gibbs equilibrium, but become trapped in an out-of-equilibrium quasi-stationary-state. Nevertheless, we show that if the initial distribution satisfies a specific constraint-a generalized virial condition-the quasistationary state...