| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5073019 | Games and Economic Behavior | 2006 | 11 Pages |
Abstract
Correlated equilibria in strategic market games played, simultaneously, by “overlapping generations” of players correspond to sunspot equilibria in the associated, competitive economy. We provide a necessary and sufficient condition for existence of effective correlation. An increase in the number of agents in a given economy may allow for effective correlation.
Related Topics
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Economics and Econometrics
Authors
Herakles M. Polemarchakis, Indrajit Ray,