Articles scientifiques

A Note on Mixture Sets in Decision Theory


Decisions in Economics and Finance

2001, vol. 24, pp.59-69

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

An operator approach to stochastic games


Israël Journal of Mathematics

2001, n°121, pp.221-246

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Bargaining on an Internet Agent-based Market: Behavioral vs. Optimizing Agents, Electronic Commerce Research Journal

C. PARASCHIV, L. Devveaux, M. Latourrette

Electronic Commerce Research and Applications

octobre 2001, vol. 1, n°4, pp.371-401

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Continua of Underemployment Equilibria Reflecting Coordination Failures, Also at Walrasian Prices

H. CRES, A. CITANNA, A. Villanacci, J. Drèze, J. Herings, H. Crès

Journal of Mathematical Economics

2001, n°36, pp.169-200

Départements : Finance, Economie et Sciences de la décision

Mots clés : General equilibrium, Underemployment, Coordination failures, Indeterminacy

In this paper, the existence of unemployment is partly explained as being the result of coordination failures. It is shown that as a result of self-fulfilling pessimistic expectations, even at Walrasian prices, a continuum of equilibria results, among which an equilibrium with approximately no trade and a Walrasian equilibrium. These coordination failures also arise at other price systems, but then unemployment is the result of both a wrong price system and coordination failures. Some properties of the set of equilibria are analyzed. Generically, there exists a continuum of non-indifferent equilibrium allocations. Under a condition implied by gross substitutability, there exists a continuum of equilibrium allocations in the neighborhood of a competitive allocation, when prices are Walrasian. For a specialized economy, a dynamic illustration is offered

Cumulative Discrete Choice

I. GILBOA, A. Pazgal

Marketing Letters

2001, vol. 12, pp.119-130

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)