Because of our assumptions on preferences, a two-stage market equilibrium requires
Ideally, one would like to trace a continuous path from an inefficient, distorted equilibrium (e.g., autarky) to the optimal free trade equilibrium, perhaps even continuously improving welfare along the path.
While there are a considerably large number of studies using finite-rate chemistry to investigate charged species concentrations in laboratory and low-pressure flames, there is relatively little work done on the use of equilibrium chemistry methods to evaluate charged species composition in reacting mixtures.
To this end, we conducted a systematic study of the problem of computing equilibrium concentrations of various neutrals and ions in combusting stoichiometric hydrocarbon-air mixtures under various conditions of temperature, pressure, and thermal disequilibrium.
Let [x.sup.*] be the s-concession equilibrium solution to GDMP at the value [epsilon].
(3) Then [x.sup.*] is the 0-concession equilibrium solution to GDMP at the value [epsilon](s), where [epsilon](s) = [(s + [[epsilon].sub.1], s + [[epsilon].sub.2], ..., s + [[epsilon].sub.r]).sup.T].
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Faynzilberg discusses the set-up with exogenous capital and argues that an equilibrium
with the MWS allocation exists.
A general equilibrium
analysis of Pakistan's population growth rate, however, asks a prior question to the one of maximising resources and welfare: what is an optimal population growth rate for Pakistan or indeed any economy with a similar structure?
It was shown that four new equilibrium
positions of particle [P.sub.3] arise from the point of libration [L.sub.4] if the second mass parameter [[mu].sub.2] = [m.sub.2]/[m.sub.0] becomes greater than zero.
As George Akerlof and Janet Yellen recognized, and Figure 1 illustrates, even small departures from optimal behavior may lead to aggregate behavior that is quite different from equilibrium
The aim of this study is to introduce a new hyperchaotic system without equilibrium
. The organization of the paper is as follows.