Monotone methods for equilibrium selection under perfect foresight dynamics (2008)
Daisuke Oyama; Graduate School Of Economics, Hitotsubashi University, Satoru Takahashi; Department Of Economics, Princeton University, Josef Hofbauer; Department Of Mathematics, University Of Vienna
This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics...
Monotone methods for equilibrium selection under perfect foresight dynamics (2008)
Daisuke Oyama; Graduate School Of Economics, Hitotsubashi University, Satoru Takahashi; Department Of Economics, Princeton University, Josef Hofbauer; Department Of Mathematics, University Of Vienna
[This item is a preserved copy. To view the original, visit http://econtheory.org/] This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are...
History versus Expectations in Economic Geography Reconsidered (2006)
This paper studies global stability of spatial configurations in a dynamic two-region model with quadratic adjustment costs where rational migrants make migration decisions so as to maximize their...
Agglomeration under Forward-Looking Expectations: Potentials and Global Stability (2006)
This paper considers a class of migration dynamics with forward-looking agents in a multi-country solvable variant of the core-periphery model of Krugman (Journal of Political Economy 99 (1991)). We...
On the Strategic Impact of an Event under Non-Common Priors (2005)
Oyama, Daisuke, Tercieux, Olivier
This paper studies the impact of a small probability event on strategic behavior in incomplete information games with non-common priors. It is shown that the global impact of a small probability...
Robust Equilibria under Non-Common Priors (2005)
Oyama, Daisuke, Tercieux, Olivier
This paper considers the robustness of equilibria to a small amount of incomplete information, where players are allowed to have heterogenous priors. An equilibrium of a complete information game is...
Iterated Potential and Robustness of Equilibria (2004)
Oyama, Daisuke, Tercieux, Olivier
For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated...
Iterated Potential and Robustness of Equilibria (2004)
Oyama, Daisuke, Tercieux, Olivier
For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated...
Monotone Methods for Equilibrium Selection under Perfect Foresight Dynamics (2003)
Oyama, Daisuke, Takahashi, Satoru, Hofbauer, Josef
This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics...
Rationalizable Foresight Dynamics: Evolution and Rationalizability
This paper considers a adjustment process in a society with a continuum of agents. Each agent takes an action upon entry and commits to it until he is replaced by his successor at a stochastic point...
Monotone Methods for Equilibrium Selection under Perfect Foresight Dynamics
Oyama, Daisuke, Takahashi, Satoru, Hofbauer, Josef
This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics...
Iterated Potential and Robustness of Equilibria
Oyama, Daisuke, Tercieux, Olivier
For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated...
On the Strategic Impact of an Event under Non-Common Priors
Oyama, Daisuke, Tercieux, Olivier
This paper studies the impact of a small probability event on strategic behavior in incomplete information games with non-common priors. It is shown that the global impact of a small probability...
Robust Equilibria under Non-Common Priors
Oyama, Daisuke, Tercieux, Olivier
This paper considers the robustness of equilibria to a small amount of incomplete information, where players are allowed to have heterogenous priors. An equilibrium of a complete information game is...
Agglomeration under Forward-Looking Expectations: Potentials and Global Stability
This paper considers a class of migration dynamics with forward-looking agents in a multi-country solvable variant of the core-periphery model of Krugman (Journal of Political Economy 99 (1991)). We...
History versus Expectations in Economic Geography Reconsidered
This paper studies global stability of spatial configurations in a dynamic two-region model with quadratic adjustment costs where rational migrants make migration decisions so as to maximize their...
Trade and Entrepreneurship with Heterogeneous Workers
Oyama, Daisuke, Sato, Yasuhiro, Tabuchi, Takatoshi, Thisse, Jacques-François
This paper investigates the impacts of progressive trade openness, technological externalities, and heterogeneity of individuals on the formation of entrepreneurship in a two-country occupation...
Monotone methods for equilibrium selection under perfect foresight dynamics
Oyama, Daisuke, Takahashi, Satoru, Hofbauer, Josef
This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics...
A model of a spatial economy with trading posts
This paper develops a framework in which exchange takes place at pairwise markets in a monetary economy with locations. In the economy there are several towns, each of which has pairwise markets...
Monotone Methods for Equilibrium Selection under Perfect Foresight Dynamics
Josef Hofbauer, Daisuke Oyama, Satoru Takahashi
The paper studies equilibrium selection in supermodular games based on a class of perfect foresight dynamics, introduced by Matsui and Matsuyama (JET 1995) and further developed by Hofbauer and...
Agglomeration under Forward-Looking Expectations: Potentials and Global Stability
This paper considers a class of migration dynamics with forward-looking agents in a multi-country solvable variant of the core-periphery model of Krugman (Journal of Political Economy 99 (1991)). We...
History versus Expectations in Economic Geography Reconsidered
This paper studies global stability of spatial configurations in a dynamic two-region model with quadratic adjustment costs where rational migrants make migration decisions so as to maximize their...
Robust Equilibria under Non-Common Priors
Oyama, Daisuke, Tercieux, Olivier
This paper considers the robustness of equilibria to a small amount of incomplete information, where players are allowed to have heterogenous priors. An equilibrium of a complete information game is...
History versus expectations in economic geography reconsidered
This paper studies global stability of spatial configurations in a dynamic two-region model with quadratic adjustment costs where rational migrants make migration decisions so as to maximize their...
On the impact of trade on industrial structures: The role of entry cost heterogeneity
Daisuke Oyama, Yasuhiro Sato, Takatoshi Tabuchi, Jacques-François Thisse
This paper investigates the impacts of progressive trade openness, technological externalities, and heterogeneity of individuals on the formation of entrepreneurship in a two-country occupation...
Agglomeration under Forward-Looking Expectations: Potentials and Global Stability
This paper considers a class of migration dynamics with forward-looking agents in a multi-country solvable variant of the core-periphery model of Krugman (Journal of Political Economy 99 (1991)). We...
Iterated potential and robustness of equilibria
Oyama, Daisuke, Tercieux, Olivier
For any given set-valued solution concept, it is possible to consider iterative elimination of actions outside the solution set. This paper applies such a procedure to define the concept of iterated...