Ebook: Current Trends in Economics: Theory and Applications

In 1990, the Society for the Advancement of Economic Theory (SAET) was founded with the main purpose to advance our knowledge in theoretical economics and to facilitate communication among researchers in economics, mathematics, game theory and any other field which is po­ tentially useful to economic theory. To achieve these goals, SAET sponsors the research journal Economic Theory published by Springer-Verlag and holds international conferences every other year. The first two conferences SAET took place in the island of Cephalonia, Greece, in the summers of of 1993 and 1995. In the summer of 1997, the conference was held in Antalya, Turkey. The twenty-nine papers in this volume are mostly by participants in the Antalya meeting of SAET and form a broad sample of the 150 papers pre­ sented there. Topics covered include cooperative and noncooperative games, social choice and welfare, bargaining, matchings, auctions, mechanism de­ sign, general equilibrium, general equilibrium with finance, industrial or­ ganization, macroeconomics, and experimental economics. We have chosen to present the papers according to the alphabetical order of first author names instead of grouping them by topic or theme. We have appended a complete listing of the sessions in the conference together with a list of program committee members and of sponsors at the end of the volume.

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The twenty-nine papers selected for this volume cover topics in cooperative and noncooperative games, social choice and welfare, bargaining, matchings, auctions, mechanism design, general equilibrium, general equilibrium with finance, industrial organization, macroeconomics, and experimental economics. They reflect the diversity and depth of thought and method in economic theory and applications, as shown in the meetings of the Society for the Advancement of Economic Theory (SAET).

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The twenty-nine papers selected for this volume cover topics in cooperative and noncooperative games, social choice and welfare, bargaining, matchings, auctions, mechanism design, general equilibrium, general equilibrium with finance, industrial organization, macroeconomics, and experimental economics. They reflect the diversity and depth of thought and method in economic theory and applications, as shown in the meetings of the Society for the Advancement of Economic Theory (SAET).
Content:
Front Matter....Pages i-ix
Pseudo-supermodular games: theory and an application....Pages 1-11
Degree of manipulability of social choice procedures....Pages 13-27
On the properties of stable many-to-many matchings under responsive preferences....Pages 29-39
Cost uncertainty, taxation, and irreversible investment....Pages 41-72
The significance of the market portfolio: theory and evidence....Pages 73-105
Does money matter? A deterministic model with cash-in-advance constraints in factor markets....Pages 107-117
Welcoming the middlemen: restricting competition in auctions by excluding the consumers....Pages 119-131
Acyclicity of fuzzy preferences....Pages 133-140
On the connection between correlated equilibria and sunspot equilibria....Pages 141-156
Ex post individually rational trading mechanisms....Pages 157-175
Allocation among multi-member households: issues, cores and equilibria....Pages 177-200
Valuation equilibrium revisited....Pages 201-214
The equal-distance rule in allocation problems with single-peaked preferences....Pages 215-223
The existence of the satisfactory point....Pages 225-231
Optimal entry and the marginal contribution of a player....Pages 233-254
On an Edgeworth characterization of rational expectations equilibria in atomless asset market economies....Pages 255-264
A characterization of the equal income market equilibrium choice correspondence based on average envy freeness....Pages 265-270
Non-keynesian effects of fiscal contractions: theory and applications for Germany....Pages 271-292
Incentives and risk sharing in a stock market equilibrium....Pages 293-323
Mergers and acquisitions, bargaining and synergy traps....Pages 325-346
Protectionism versus non-protectionism under cost uncertainty in Cournot and Stackelberg markets....Pages 347-365
The canonical extensive form of a game form: symmetries....Pages 367-387
Bargaining in a changing environment....Pages 389-404
An extension of the nonatomic assignment model....Pages 405-412
Testing decision rules for multiattribute decision making....Pages 413-454
Collusion and distribution of profits under differential information....Pages 455-473
Predicting proposal configurations in cooperative games and exchange economies....Pages 475-489
International financial equilibrium with risk sharing and private information....Pages 491-518
Remark on extended price equilibria....Pages 519-532
Back Matter....Pages 533-546

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The twenty-nine papers selected for this volume cover topics in cooperative and noncooperative games, social choice and welfare, bargaining, matchings, auctions, mechanism design, general equilibrium, general equilibrium with finance, industrial organization, macroeconomics, and experimental economics. They reflect the diversity and depth of thought and method in economic theory and applications, as shown in the meetings of the Society for the Advancement of Economic Theory (SAET).
Content:
Front Matter....Pages i-ix
Pseudo-supermodular games: theory and an application....Pages 1-11
Degree of manipulability of social choice procedures....Pages 13-27
On the properties of stable many-to-many matchings under responsive preferences....Pages 29-39
Cost uncertainty, taxation, and irreversible investment....Pages 41-72
The significance of the market portfolio: theory and evidence....Pages 73-105
Does money matter? A deterministic model with cash-in-advance constraints in factor markets....Pages 107-117
Welcoming the middlemen: restricting competition in auctions by excluding the consumers....Pages 119-131
Acyclicity of fuzzy preferences....Pages 133-140
On the connection between correlated equilibria and sunspot equilibria....Pages 141-156
Ex post individually rational trading mechanisms....Pages 157-175
Allocation among multi-member households: issues, cores and equilibria....Pages 177-200
Valuation equilibrium revisited....Pages 201-214
The equal-distance rule in allocation problems with single-peaked preferences....Pages 215-223
The existence of the satisfactory point....Pages 225-231
Optimal entry and the marginal contribution of a player....Pages 233-254
On an Edgeworth characterization of rational expectations equilibria in atomless asset market economies....Pages 255-264
A characterization of the equal income market equilibrium choice correspondence based on average envy freeness....Pages 265-270
Non-keynesian effects of fiscal contractions: theory and applications for Germany....Pages 271-292
Incentives and risk sharing in a stock market equilibrium....Pages 293-323
Mergers and acquisitions, bargaining and synergy traps....Pages 325-346
Protectionism versus non-protectionism under cost uncertainty in Cournot and Stackelberg markets....Pages 347-365
The canonical extensive form of a game form: symmetries....Pages 367-387
Bargaining in a changing environment....Pages 389-404
An extension of the nonatomic assignment model....Pages 405-412
Testing decision rules for multiattribute decision making....Pages 413-454
Collusion and distribution of profits under differential information....Pages 455-473
Predicting proposal configurations in cooperative games and exchange economies....Pages 475-489
International financial equilibrium with risk sharing and private information....Pages 491-518
Remark on extended price equilibria....Pages 519-532
Back Matter....Pages 533-546
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