Correlated Equilibrium and Sunspot Equilibrium.

B-Tier
Journal: Economic Theory
Year: 1995
Volume: 5
Issue: 1
Pages: 33-50

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We show by an example that the sunspot equilibria of a competitive economy are not equivalent to the correlated equilibria if sunspots generate transfers between (extrinsic) state of nature (through a contingent commodities market). Nevertheless, we prove that the sunspot equilibrium allocations of a standard overlapping generations economy coincide with the (strategic form) correlated equilibrium allocations of a natural market game mimicking the economy.

Technical Details

RePEc Handle
repec:spr:joecth:v:5:y:1995:i:1:p:33-50
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25