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It will be referred to as the third equation for static equilibrium of actions or in brief way--simply the third equation.
7) is the third equation of static equilibrium of forces.
Capacity constraints are the only way to model noncompetitive pricing as a static equilibrium in a full-information homogeneous-product price-setting market.
TABLE 1 Static Equilibrium Predictions and Friedman Coefficient Values Treatment (1) [[bar.
We showed that if in the multiperiod dynamic model a competitive Nash equilibrium exists, it is Pareto-superior to the static equilibrium if, and only if, conditional contracts are allowed.
0] = 0), but to switch irrevocably to the static equilibrium level (that is, X=x ) after observing an apparent violation of the agreement.
Thereafter, in the ensuing static equilibrium, the banker's profit each period is [rho]x-2[lambda]x=-x.
Nevertheless, in Appendix B, we provide some microstructure to the rent-seeking sector to demonstrate that the static equilibrium defined below is compatible with a richer microstructure.
The symmetric static equilibrium with perfect factor mobility is defined by a MRT p such that
Second, sellers may be drawn to static equilibrium predictions but perceive an effective minimum bid increment.
The analysis of the motion characteristics indicates that if parameter [gamma] increases, the body can move with jumping displacement and later vibrate close to the static equilibrium position (Fig.