7) According to the definition, the vacant space associated with market equilibrium is allocated between the "space needed to service the market friction of normal tenant movements" and "space needed to accommodate new demand coming into the market.
10) This component of equilibrium is based on the demand characteristics of a market--the greater the anticipated demand, the greater the required future supply, and the greater the current equilibrium vacancy rate.
Let us start with the separating equilibrium in the setting of Rothschild and Stiglitz (1976): high-risk individuals are fully insured while low-risk individuals self-select into partial insurance contracts.
The qualitative features of the separating equilibrium in the setting of Rothschild and Stiglitz (1976) are therefore robust to the introduction of low levels of regret aversion for low-risk individuals and the correlation between the level of insurance coverage and risk type is positive.
In this regard, individuals can be considered to move along a continuum of equilibrium states (Figure1).
Stable, unstable, and neutral states of equilibrium are typically found in rigid bodies rather than in animate objects.
He defines as an equilibrium point every best response profile that is a best response to itself.
A self-countering n-tuple is called an equilibrium point.
Starting from the second stage of the game, equilibrium in prices is discussed now.
By solving the conditions for both firms simultaneously, Nash equilibrium in price strategies can be obtained.
These include describing first-order linear vector stochastic difference equations as the building block for a class of economic structures with competitive equilibrium prices and quantities; and explaining fast algorithms, like the doubling algorithm, for computing the value function and optimal decision rule of social planning problems.
Chapter Six introduces a decentralized version of the economy presented in Chapter Five, and Chapter Seven defines competitive equilibrium and the equilibrium price system.
Chapter three discusses the methodology related to the mainstream, neoclassical equilibrium
The content of Tieben's historical investigation into the usage of the equilibrium
is outlined and assessed in Section 2.
A recent result in Roughgarden (2009) compares the worst correlated equilibrium
to the social optimum.