Correlated equilibria and sunspots (Q1106079): Difference between revisions
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Property / cites work: Subjectivity and correlation in randomized strategies / rank | |||
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Property / cites work: Self-fulfilling prophecies / rank | |||
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Property / cites work: Sunspots and Cycles / rank | |||
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Property / cites work: On Endogenous Competitive Business Cycles / rank | |||
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Property / cites work: Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies / rank | |||
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Property / cites work: Cournot and Walras equilibrium / rank | |||
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Latest revision as of 18:13, 18 June 2024
scientific article
Language | Label | Description | Also known as |
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English | Correlated equilibria and sunspots |
scientific article |
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Correlated equilibria and sunspots (English)
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1987
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The authors present an example to show that uncertainty which has no influence on basic parameters such as preferences, endowments or technology can nevertheless affect the equilibrium outcome. The example is based on a two-period, two-commodity, two class economy in which the signals that different agents observe are imperfectly correlated and one commodity is a Giffen good.
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sunspots
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finite horizon model
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overlapping generations
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extrinsic uncertainty
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imperfectly correlated equilibrium
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two-period, two- commodity, two class economy
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Giffen good
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