학술논문
Incentives Design in the Presence of Externalities.
Document Type
Theses
Author
Source
Dissertation Abstracts International; Dissertation Abstract International; 78-09B(E).
Subject
Language
English
Abstract
Summary: I perform theoretical analysis of a simple mean field model of deep fixes and prove the existence of a mean field equilibrium. Further, I define a new type of dynamic market equilibrium, called correctness equilibrium, and prove its existence. Finally I consider the relationship between mean field equilibrium and correctness equilibrium, showing that mean field equilibrium need not satisfy a notion of efficiency whereas correctness equilibrium does.