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Related to equilibria: Punctuated equilibria
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Kent and Eisenberg [5] is one of the first widely used model that predicted ionic equilibria and carbon dioxide loadings in aqueous MEA and DEA solutions.
We demonstrate in the article that targeted self-insurance actions are performed (provided that the test is taken) when separating equilibria prevail.
Of course, competitive equilibria are Nash equilibria.
The primitive descriptions of preferences, technology and information that satisfy the assumptions of linear control theory are acknowledged inevitably as the philosophy of recursive competitive equilibria.
We imagine a mediator selecting the outcome of the game; correlated equilibria guarantee that obeying the mediator will minimize the expected cost for each player (or maximize the expected utility), and thus that it is in the best interest of the players to follow the outcome selected through mediation.
It is well known that when network effects are positive, there can be multiple equilibria as consumers can coordinate on one or the other firm.
1) has two equilibria namely A(0, 0, 0, 0) and B([x.
The following is a suggested 'kinetics first' approach to explaining equilibria behaviour.
There are potentially many equilibria in this signaling game, but RW use the refinement arguments of Banks and Sobel (1987) to eliminate all but a separating equilibrium.
Price-sustainable natural monopoly market configurations have been characterized as Bertrand-Nash equilibria for market games involving an incumbent firm and one or more potential entrants [Becker, Journal of Economics and Business, 1994; Knieps and Vogelsang, Bell Journal of Economics, 1982].