Stable equilibria-A reformulation. Part II. Discussion of the definition, and further results

Stable equilibria-A reformulation. Part II. Discussion of the definition, and further results

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Article ID: iaor19921074
Country: United States
Volume: 16
Issue: 4
Start Page Number: 694
End Page Number: 753
Publication Date: Nov 1991
Journal: Mathematics of Operations Research
Authors:
Keywords: economics
Abstract:

This is part II of Mertens (IAOR 45229). It discusses the geometric content of the definition, showing in particular the algebraic distinctions to matter. The paper provides an equivalent definition that gets rid of the need to use Hausdorff limits, and finally it shows that a ‘decomposition axiom’ eliminates most of the algebraic possibilities, leaving only the ‘p-stable’ sets, for p zero or prime.

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