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Models for non-cooperative foundation of competitive equilibrium. (Russian) Zbl 1086.91013

Summary: The authors consider game theoretical models of unorganized market where large groups of economic agents change their initial endowments by repeated bargaining in pairs. The authors examine the relation between a sequential Nash equilibrium and a Walrass equilibriums in connection with the conditions of exchange. It is shown that a possibility for every agent to bargain many times is necessary for the convergence of the Nash equilibrium outcome to the Walrasian as the time of bargaining tends to infinity.

MSC:

91A40 Other game-theoretic models
91A07 Games with infinitely many players
91B52 Special types of economic equilibria
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