Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
When Non-Transitive Relations Take Maxima And Competitive Equilibria Can't Be Beat, Ted Bergstrom
When Non-Transitive Relations Take Maxima And Competitive Equilibria Can't Be Beat, Ted Bergstrom
Ted C Bergstrom
The paper generalizes theorems of Ky Fan and Hugo Sonnenschein on the existence of maximal elements for non-transitive relations. I used these results to show that a binary relation could be constructed whose maximal element must be a competitive equilibrium. Thus proving the existence of competitive equilibrium under somewhat more general conditions than had been done previously. In 1975, I thought this was a useful extension of the Gale Mas Collel existence theorem. Journal referees then didn't agree with me, so I let it ripen in my desk for 15 years. I still think it is worth looking at if …
Vernon Smith's Insomnia And The Dawn Of Economics As Experimental Science, Ted Bergstrom
Vernon Smith's Insomnia And The Dawn Of Economics As Experimental Science, Ted Bergstrom
Ted C Bergstrom
A retrospective on Vernon Smith's contributions to experimental economics, written for the Scandinavian Journal of Economics.
The Iron Law Of Selfishness: Response To A Comment By Alexander Field, Ted Bergstrom
The Iron Law Of Selfishness: Response To A Comment By Alexander Field, Ted Bergstrom
Ted C Bergstrom
Alexander Field was not convinced of a result that I claimed in my JEP 2001 paper that in "haystack models" with non-assortative mating, if the number of descendants of founding group members is determined by an n-player prisoners' dilemma game, then the population will converge to a population of defectors. He thought that the result applied only if the groups were large. I respond with a more detailed discussion and show how the result works even when groups have only two members.