Price-Taking Equilibrium in Economics and
Games
Joseph M. Ostroy, Joon Song
XXIV European Workshop on General Equilibrium Theory, Naples, 2015
Similarities between Walrasian equilibrium in quasi linear models of
exchange and correlated equilibrium in normal form games are
demonstrated. Each is characterized as saddle-points of a Lagrangian
/saddle-function. The characterization calls attention to correlated
equilibrium as then person generalization of the Minimax Theorem for 2person zero-sum games. Similarities between exchange and games extend
to tâtonnement-like methods of convergence.
February 18, 2016 – 4:00 p.m. – Room b_135
Vladimir SHIKHMAN