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Objections to the teaching of business ethics 总被引:1,自引:0,他引:1
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This paper deals with the problem of implementing the Walras correspondence via Nash equilibria, in exchange economies with infinitely many commodities and finitely many households with possibly non-ordered
preferences. We explicitly construct a feasible mechanism enjoying some features, which have natural economic meanings. Under
a fairly weak boundary condition, this game fully implements the Walras equilibria. If this condition is not fulfilled, our
mechanism nevertheless implements the constrained Walras equilibria.
Received: 11 December 2003, Accepted: 29 July 2005
JEL Classification:
D41, D43, D51
We thank (without implicating) Prof. Jean-Marc Bonnisseau and Cuong Le Van for helpful comments. The views expressed in this
paper reflect those of the authors and not necessarily those of Calyon. 相似文献
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In this paper, we prove an existence theorem for equilibria in production economies with increasing returns, which generalizes the classic results on this topic. In particular, we eliminate both the free-disposal assumptions and any smoothness requirements on the boundary of the production sets. For this purpose, we propose a new definition of the topological degree for non-convex-valued correspondences defined on non-smooth topological manifolds. 相似文献
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We define continuous-time dynamics for exchange economies with fiat money. Traders have locally rational expectations, face a cash-in-advance constraint, and continuously adjust their short-run dominant strategy in a monetary strategic market game involving a double-auction with limit-price orders. Money has a positive value except on optimal rest-points where it becomes a ??veil?? and trade vanishes. Typically, there is a piecewise globally unique trade-and-price curve both in real and in nominal variables. Money is not neutral, either in the short-run or long-run and a localized version of the quantity theory of money holds in the short-run. An optimal money growth rate is derived, which enables monetary trade curves to converge towards Pareto optimal rest-points. Below this growth rate, the economy enters a (sub- optimal) liquidity trap where monetary policy is ineffective; above this threshold inflation rises. Finally, market liquidity, measured through the speed of real trades, can be linked to gains-to-trade, households?? expectations, and the quantity of circulating money. 相似文献
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Gael M. McDonald Associate Professor 《International Review of Retail, Distribution & Consumer Research》2013,23(3):315-327
Despite the proliferation of theoretical developments in the area of western consumer behaviour, to date the likelihood of Asian variants to existing consumer behavioural models has not been explored in any detail. Based on prior research in the field of retail attribute testing this empirical study investigates the influence of supermarket store attributes on Chinese (Macau) customer satisfaction moderated by the biographical factors of age and income. The results indicate that the store attributes of distance and speed of check out were significant for age, and that delivery service and price reductions were significant by income. Total independent variable rankings indicated store location, price and product variety were perceived by Chinese respondents as being the most important store attributes influencing satisfaction. 相似文献
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The authors describe a renewable resource allocation game designed to stimulate students' interest in and understanding of market failure associated with open-access types of resource use. They also use the game to discuss the advantages and disadvantages of various property rights and regulation schemes. Because this exercise demonstrates the power of unregulated and regulated economic incentives, many types of students may benefit from this game, including undergraduates enrolled in the standard introductory and in more advanced microeconomics classes, as well as courses in environmental economics and natural resource economics. This game was specifically designed so that noneconomics majors in natural resource management and environmental courses could also benefit. 相似文献