Browsing by Author "Schmeidler, David"
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Item Construction of Outcome Functions Guaranteeing Existence and Pareto Optimality of Nash Equilibria(Center for Economic Research, Department of Economics, University of Minnesota, 1976-08) Hurwicz, Leonid; Schmeidler, DavidItem Integral Representation Without Additivity(1984) Schmeidler, DavidItem A Remark on Microeconomic Models of an Economy and on a Game Theoretic Interpretation of Walras Equilibria(Center for Economic Research, Department of Economics, University of Minnesota, 1976-05) Schmeidler, DavidThe main purpose of this note is to describe rigorously a game in strategic form whose Nash equilibria coincide with the Walras equilibria of the underlying economy. Consequently the Nash outcomes are Pareto efficient.Item Revelation and Implementation under Differential Information(1984) Postlewaite, Andrew; Schmeidler, DavidOur goal in this pape is to merge several central ideas in economic theory; strategic behavior (incentive compatibility), differential (or incomplete) information, and the Arrow-Debreu model of general equilibrium. By strategic behavior we refer to the literature which models economic institutions as games in strategic form and uses Nash equilibrium as the solution concept. This literature, motivated by informational decentralization questions, deals not with a single economic environment and a single game, but rather considers a class of environments and a strategic outcome function (game form) which is applied uniformly to this class. The concept of differential information is that of Bayesian equilibrium as it has been applied in the literature on implicit contracts, principal-agent problems and bidding and auction models.Item Subjective Probability and Expected Utility Without Additivity(1984-07) Schmeidler, David