Equivalence of Stochastic and Deterministic Mechanisms

Chen, Yi‐Chun; He, Wei; Li, Jiangtao; Sun, Yeneng

doi:10.3982/ecta14698

Cited by 16 publications

(7 citation statements)

References 44 publications

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“…The first is to the set of indirect deterministic mechanisms. In an indirect deterministic mechanism if agents play mixed strategies then the direct mechanism, that mimics the equilibrium strategies of the indirect mechanism, is not deterministic, see, e.g., Strausz (2003), Jarman and Meisner (2017), and Chen et al (2019). I find that all the results of the paper still hold even if we consider indirect deterministic mechanisms.…”

Section: B Generality Of the Resultsmentioning

confidence: 80%

Efficient sequential screening with informational externalities

Zik

2022

Econ Theory

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A seller of an item faces a potential buyer whose valuation of the item depends on two private signals. It is well known that when there are informational externalities and the buyer’s private signals arrive all at once, it is impossible to implement an efficient sale. I show that if the buyer’s private signals arrive over time, then the seller can implement an efficient sale even in the presence of informational externalities. Specifically, I present a novel condition on the relationship between the buyer’s valuation and the social welfare that is necessary and sufficient for efficient sequential implementation.

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Section: B Generality Of the Resultsmentioning

confidence: 80%

Efficient sequential screening with informational externalities

Zik

2022

Econ Theory

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“…The results of the experiment gave a representative assessment of the adequacy of the adopted methodology and the proposed tools. The authors tested the principle of synergetic deterministic chaos [ 1 – 3 ] and several models of econophysics based on mesodynamic data from 12 main economical sectors over 78 regions of Russia during the period from 2005 to 2017 [ 13 ]. Time series of the following industries are considered: construction and building, retail trade, natural resources extraction and mining, crude oil and gas extraction, metal ores extraction, industry and manufacturing, chemical industry, production of rubber and plastics, pharmacy, metallurgy, production of electronics and optical devices.…”

Section: Methodsmentioning

confidence: 99%

Tools for Estimation of “Deterministic Chaos” of Economic Sectoral Mesodynamic

Semenychev

Korobetskaya

2020

Lecture Notes in Networks and Systems

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The purpose of the study is to substantiate the methodology and develop tools for evaluating the indicators’ dynamics of Russian regions’ industries. Sectoral mesodynamic is considered as open, nonlinear and weakly structured. The synergetic principle of “deterministic chaos” and the econophysics models are implemented for modeling. Approbation by the authors on the exploration mesodynamic data of 12 main sectors over 78 Russian regions during the period from 2005 to 2017. Tre results demonstrate a great adequacy of the applied tools, outlined a set of directions for its development and areas of possible application, including socio-dynamics. The prospects of applying nonlinear trends, mainly logistic ones, are shown. E.Slutsky’s theorem on modeling medium-term business cycles by the sum of three harmonics with non-multiple frequencies is confirmed. The adequacy of trajectories’ modeling is provided by supplementing the known structures of mesodynamic trajectories with additive-multiplicative interactions, and considering the stochastic component as a mixture of distributions with heavy tails. Exploratory results showed heterogeneity of institutional and economic development of regions, which creates imbalances in economic cycles, allowing to make forecasts for the development of regional economies, to form knowledge bases to characterize the cause-and-effect relationships of economic theory.

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“…The Loeb measure construction ( [Loe75]) has many fruitful applications in various areas in mathematics such as probability theory (see [And76], [AR78], [Per81], [Kei84], [Sto86], [Lin90], [Lin04], [DRW18], [ADS18] etc), statistical decision theory (see [DR18]), potential theory ( [Loe76]), mathematical physics (see [AHKFL86]) and mathematical economics (see [BR74], [Kha74], [BR75], [KR75], [Kha76], [Ras78], [Emm84], [And85], [And88], [And91], [Sun96], [AKRS97], [Sun99], [KS99], [AKS03], [Rau07], [DS07], [AR08], [Sun16], [DQS18], [CHLS19], among others). 1 These applications are made possible by a well-developed theory of integration (see [Loe75] and [And76]), representation of measures (see [And82] and [Sti97]) and a Fubini theorem for Loeb measures (see [Kei84]).…”

Section: Introductionmentioning

confidence: 99%

Loeb extension and Loeb equivalence

Anderson

Duanmu

Schrittesser

et al. 2021

Proc. Amer. Math. Soc. Ser. B

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In [J. London Math. Soc. 69 (2004), pp. 258-272] Keisler and Sun leave open several questions regarding Loeb equivalence between internal probability spaces; specifically, whether under certain conditions, the Loeb measure construction applied to two such spaces gives rise to the same measure. We present answers to two of these questions, by giving two examples of probability spaces. Moreover, we reduce their third question to the following: Is the internal algebra generated by the union of two Loeb equivalent internal algebras a subset of their common Loeb extension? We also present a sufficient condition for a positive answer to this question.

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Equivalence of Stochastic and Deterministic Mechanisms

Cited by 16 publications

References 44 publications

Efficient sequential screening with informational externalities

Efficient sequential screening with informational externalities

Tools for Estimation of “Deterministic Chaos” of Economic Sectoral Mesodynamic

Loeb extension and Loeb equivalence

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