Testing for a unique equilibrium in applied general equilibrium models

The Nash Equilibrium With Inertia in Population Games

“…where the first inequality follows from combining (17) and (20). Combining (16) and (21) we obtain i faces utility decrease at step k ≥k ⇒ Figure 4 illustrates inequalities (21) and (22). Combining inequalities (21) and (22) we obtain that…”

“…While equilibrium uniqueness often makes the analysis simpler, this property does not always hold in realworld competitive decision making, see [20] for a discussion. Instead, convergence to one outcome or another often depends on the initial conditions and on the process utilized to revise the decisions [21], with examples ranging from road-traffic network to internet-routing. In this respect, it is worth remarking how celebrated notions, such as that of price of anarchy (the quality of the worst-performing equilibrium [22]), hinge precisely on the existence of multiple equilibria.…”

Computable General Equilibrium Models for the Analysis of Energy and Climate Policies

“…It is therefore unsurprising that tests of multiplicity of equilibria in real-world CGE models are few and far between. 13 Research in this area is ongoing, focusing on translating theoretical results into numerical diagnostic tools (e.g., Dakhlia, 1999). But without the ability to test for-or remedy-the problem of multiple equilibria, most applied work proceeds on the assumption that the solutions generated by their simulations are unique and stable.…”

“…But without the ability to test for-or remedy-the problem of multiple equilibria, most applied work proceeds on the assumption that the solutions generated by their simulations are unique and stable. As Dakhlia (1999)…”

Dimensão regional e setorial da integração brasileira na Área de Livre Comércio das Américas.

“…Em geral estas características são atendidas em sistemas walrasianos de equilíbrio geral expressos na forma de equações linearizadas. Para um tratamento dessa questão ver Dakhlia (1999) Harrison e Pearson (1996). A implementação e descrição completa do modelo ORANI-F implementado no GEMPACK está em Horridge et al (1993).…”