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A three way equivalence

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  • Koutsougeras, Leonidas C.
  • Ziros, Nicholas

Abstract

In view of the well known core equivalence results in atomless economies, coincidence of market game equilibrium allocations with competitive allocations is tantamount to a three way equivalence between market game mechanisms, competitive equilibria and the core. Based on this idea we study equilibrium refinements of market games, which allow us to use the core equivalence machinery in order to provide an exact market game characterization of competitive equilibria.

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  • Koutsougeras, Leonidas C. & Ziros, Nicholas, 2008. "A three way equivalence," Journal of Economic Theory, Elsevier, vol. 139(1), pages 380-391, March.
    • Handle: RePEc:eee:jetheo:v:139:y:2008:i:1:p:380-391
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    Cited by:

    1. Francesca Busetto & Giulio Codognato & Sayantan Ghosal & Ludovic Julien & Simone Tonin, 2020. "Existence and optimality of Cournot–Nash equilibria in a bilateral oligopoly with atoms and an atomless part," International Journal of Game Theory, Springer;Game Theory Society, vol. 49(4), pages 933-951, December.
    2. Nicholas Ziros, 2008. "The bargaining set in strategic market games," University of Cyprus Working Papers in Economics 8-2008, University of Cyprus Department of Economics.
    3. Alex Dickson & Simone Tonin, 2021. "An introduction to perfect and imperfect competition via bilateral oligopoly," Journal of Economics, Springer, vol. 133(2), pages 103-128, July.
    4. Dmitry Levando, 2012. "A Survey Of Strategic Market Games," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 57(194), pages 63-106, July - Se.
    5. Nicholas Ziros, 2011. "The bargaining set in strategic market games," Journal of Economics, Springer, vol. 102(2), pages 171-179, March.

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