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How many sorting equilibria are there (generically)?

Author

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  • Andrei Gomberg

    (Centro de Investigacion Economica (CIE), Instituto Tecnologico Autonomo de Mexico (ITAM))

Abstract

It is shown that in a generic two-jurisdiction model of the type introduced by Caplin and Nalebuff (1997), the number of sorting equilibria (with jurisdictions providing distinct policies) is finite and even.

Suggested Citation

  • Andrei Gomberg, 2003. "How many sorting equilibria are there (generically)?," Working Papers 0303, Centro de Investigacion Economica, ITAM.
    • Handle: RePEc:cie:wpaper:0303
    as

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    File URL: http://ftp.itam.mx/pub/academico/inves/gomberg/03-03.pdf
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    References listed on IDEAS

    as
    1. Debreu, Gerard, 1970. "Economies with a Finite Set of Equilibria," Econometrica, Econometric Society, vol. 38(3), pages 387-392, May.
    2. Gomberg, Andrei, 2004. "Sorting equilibrium in a multi-jurisdiction model," Journal of Economic Theory, Elsevier, vol. 116(1), pages 138-154, May.
    3. Douglas Gale, 1992. "A Walrasian Theory of Markets with Adverse Selection," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(2), pages 229-255.
    4. Caplin, Andrew & Nalebuff, Barry, 1997. "Competition among Institutions," Journal of Economic Theory, Elsevier, vol. 72(2), pages 306-342, February.
    5. Mclennan, A., 1989. "Selected Topics In The Theory Of Fixed Points," Papers 251, Minnesota - Center for Economic Research.
    6. Stinchcombe, Maxwell B., 1990. "Bayesian information topologies," Journal of Mathematical Economics, Elsevier, vol. 19(3), pages 233-253.
    7. Dierker, Egbert, 1972. "Two Remarks on the Number of Equilibria of an Economy," Econometrica, Econometric Society, vol. 40(5), pages 951-953, September.
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