Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies

DOI10.2307/2297949zbMATH Open0742.90024OpenAlexW2106862853MaRDI QIDQ3983471FDOQ3983471

Authors: James Peck, Karl Shell 

Publication date: 27 June 1992

Published in: Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/2297949

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zbMATH Keywords

sunspot equilibriumimperfectly competitive economiesmarket uncertaintynonstochastic market gamesstochastic equilibrium outcomes

Mathematics Subject Classification ID

Other game-theoretic models (91A40) General equilibrium theory (91B50)

Cited In (32)

• Correlated equilibrium and sunspot equilibrium
• Multiplicity, instability and sunspots in games.
• Equilibrium prices when the sunspot variable is continuous.
• Price level volatility: A simple model of money taxes and sunspots
• Sunspots, correlation and competition
• Money as minimal complexity
• General equilibrium concepts under imperfect competition: A Cournotian approach
• Strategic market games: an introduction.
• A strategic market game with complete markets
• Liquid markets and competition
• Endogenous strategic business cycles
• Indeterminacy and directed search.
• Sunspot-like equilibria in an overlapping generations economy with strategic interactions
• Local coordination and market equilibria.
• Graphical exchange mechanisms
• Consistent collusion-proofness and correlation in exchange economies.
• The anatomy of sentiment-driven fluctuations
• Informed trading and the `leakage' of information
• From Nash to Walras via Shapley-Shubik.
• Private information and sunspots in sequential asset markets
• The market game: Existence and structure of equilibrium
• Indivisibilities, lotteries, and sunspot equilibria
• Statistical equilibrium in one-step forward looking economic models
• Speculation and price fluctuations with private, extrinsic signals
• Sunspot-like effects of random endowments
• The revelation of information and self-fulfilling beliefs
• Price stickiness and markup variations in market games
• Decentralizing lottery allocations in markets with indivisible commodities
• Large market games with demand uncertainty.
• Firm dynamics and markup variations: Implications for sunspot equilibria and endogenous economic fluctuations
• Correlated equilibria and sunspots
• The relation between sunspot effects and multiplicity in incomplete markets models with numeraire assets

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