Stochastic equilibria
type: Item
instance of: scholarly article
title: Stochastic equilibria
zbMATH Open document ID: 0677.90012
DOI: 10.1016/0304-4068(88)90028-6
author: David C. Nachman
published in: Journal of Mathematical Economics
publication date: 1988-01-01T00:00:00Z
review text: \textit{L. E. Blume} [J. Math. Econ. 9, 61-70 (1982; Zbl 0471.90028)] shows that the transition correspondence (equilibrium correspondence) associated with `pure' stochastic equilibria in an abstract Markov model of temporary equilibrium is convex valued if, in addition to some assumptions, the transition probability \(\psi\) describing the Markovian evolution of the exogenous random variable has atomless values. In this paper this result is obtained without the hypothesis of atomless values of \(\psi\) by considering all stochastic equilibria, not just the `pure' ones.
reviewed by: Werner J. A. Stich
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 4110422
zbMATH Keywords: transition correspondence
zbMATH Keywords: abstract Markov model
zbMATH Keywords: temporary equilibrium
zbMATH Keywords: atomless values
zbMATH Keywords: stochastic equilibria
MaRDI profile type: Publication
full work available at URL: 0304-4068(88)90028-6
OpenAlex ID: W4252083828
cites work: Q5722776
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cites work: Measurable relations
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cites work: The Existence of Probability Measures with Given Marginals
description: scientific article; zbMATH DE number 4110422