Universally converging adjustment processes -- a unifying approach.
The referred paper is based on the idea that many results in the game theory or general equilibrium regard some types of convergence of adjustment processes. The author aims to specify the unifying characteristics connecting all these phenomena in one frame. Particular sections deal with models known in the literature, e.g.: Harsanyi and Selten's tracing problem, quantal response equilibria of McKelvey and Palfrey, price adjustment process of Kamiya, price adjustment process of van der Laan and Talman, and the global Newton method of Smale. The analysis of those convergences shows the unifying feature consisting in the Browder's fixed point theorem which is applicable under very general conditions and does not involve any assumption of differentiability. That influence of the fixed point theory is evident in the existence of an equilibrium, as well as in the universal stability concept.
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- A path-following procedure to find a proper equilibrium of finite games
- A remark on boundary restrictions in the global Newton method
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- An adjustment process for the standard Arrow-Debreu model with production
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- Market Excess Demand Functions
- Quantal response equilibria for normal form games
- Some Examples of Global Instability of the Competitive Equilibrium
- Static and dynamic aspects of general disequilibrium theory
- The tracing procedure: A Bayesian approach to defining a solution for n- person noncooperative games
- The transition from a Drèze equilibrium to a Walrasian equilibrium
- Two simple proofs of the feasibility of the linear tracing procedure
- Potentials for binary relations and systems of monotone responses.
- Equilibrium selection in games: the mollifier method
- Quantal response methods for equilibrium selection in normal form games
- An impossibility theorem for price-adjustment mechanisms
- Globally and universally convergent price adjustment processes
- Homotopy methods to compute equilibria in game theory
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