NICE TRIVIAL EQUILIBRIA IN STRATEGIC MARKET GAMES

Authors
CORDELLA T GABSZEWICZ JJ
Citation
T. Cordella et Jj. Gabszewicz, NICE TRIVIAL EQUILIBRIA IN STRATEGIC MARKET GAMES, Games and economic behavior, 22(1), 1998, pp. 162-169
Citations number
4
Categorie Soggetti
Economics
Journal title
Games and economic behavior → ACNP
ISSN journal
08998256
Volume
22
Issue
1
Year of publication
1998
Pages
162 - 169
Database
ISI
SICI code
0899-8256(1998)22:1<162:NTEISM>2.0.ZU;2-2
Abstract
An example of an exchange economy is provided, satisfying all of the a ssumptions of Dubey and Shubik (1978), for which the trivial Nash equi librium is the unique equilibrium point of the associated market game. From this example, we are led to propose an argument, related to the intensity of competition, explaining whv there could be no trade at an equilibrium point. (C) 1998 Academic Press.