In this work the problematic issue of price determination in economic theory is re-examined.In the first chapter a state-of-the-art survey regarding the existence of equilibrium and thestructure of the equilibrium set in price-setting games is provided. In chapter two a newcore concept, the Bertrand core, is introduced and characterized. In chapter three a revealedpreference perspective upon the Nash equilibria in price-setting games is provided. In chapterfour, the issue of Bayesian equilibrium existence is addressed when traders have incompleteinformation regarding each others' types. Finally, a summary of possible future avenues forresearch in this area is provided.
| Date of Award | 31 Dec 2011 |
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| Original language | English |
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| Awarding Institution | - The University of Manchester
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| Supervisor | Christopher Birchenhall (Supervisor) & Alejandro Saporiti (Supervisor) |
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- equilibrium existence; price-making
On the existence and structure of equilibrium in price-setting games
Routledge, R. (Author). 31 Dec 2011
Student thesis: Phd