Read While You Wait - Get immediate ebook access, if available*, when you order a print book

Lecture Notes in Economics and Mathematical Systems

Adjustment Processes for Exchange Economies and Noncooperative Games

Authors: Elzen, Antoon van den

Free Preview

Buy this book

eBook $89.00
price for USA in USD (gross)
  • ISBN 978-3-642-48133-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $119.99
price for USA in USD
  • ISBN 978-3-540-57310-4
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
About this book

This monograph is a treatise on adjustment processes. We consider price adjustment processes in exchange economies and strategy adjustment processes in noncooperative games. In the most simple version of an exchange economy, i.e. a pure exchange economy, there exist markets on which prices are determined by the demand and supply created by a finite number of consumers willing to exchange their initial endowments in order to maximize their utilities. An equilibrium situation is attained if, for some price vector, demand equals supply in all markets. Starting from a situation not being an equi­ librium an adjustment process reaches an equilibrium via adaptations of prices. The advantage of the adjustment processes we will present in this monograph is that they exist and converge under far weaker assumptions than existing processes. The second subject concerns the problem of finding Nash equilibria in noncooperative games. A Nash equilibrium is a situation from which no player can improve his position by unilaterally changing his strategy. We present a new algorithm for finding such equilibria. The sequence of stra­ tegy vectors generated by the algorithm can be interpreted as the path followed by a strategy adjustment process.

Table of contents (6 chapters)

Table of contents (6 chapters)

Buy this book

eBook $89.00
price for USA in USD (gross)
  • ISBN 978-3-642-48133-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $119.99
price for USA in USD
  • ISBN 978-3-540-57310-4
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
Loading...

Recommended for you

Loading...

Bibliographic Information

Bibliographic Information
Book Title
Adjustment Processes for Exchange Economies and Noncooperative Games
Authors
Series Title
Lecture Notes in Economics and Mathematical Systems
Series Volume
402
Copyright
1993
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-48133-8
DOI
10.1007/978-3-642-48133-8
Softcover ISBN
978-3-540-57310-4
Series ISSN
0075-8442
Edition Number
1
Number of Pages
VII, 146
Topics

*immediately available upon purchase as print book shipments may be delayed due to the COVID-19 crisis. ebook access is temporary and does not include ownership of the ebook. Only valid for books with an ebook version. Springer Reference Works are not included.