Economies and Games with Many Agents

Abstract

In this thesis, we consider three economic models with many agents, independent random partial matchings with general types, large games with actions in infinite-dimensional Banach spaces, and private information economies.

(1). For independent random partial matchings with general types, we formally formulate the independent random partial matching with general types, establish its existence, and show the exact law of large numbers of it.

(2). For large games with actions in infinite-dimensional Banach spaces, we find a necessary and sufficient condition to guarantee the existence of pure-strategy Nash equilibria.

(3). For private information economies, we consider Radner equilibrium, private core and insurance equilibrium, and show that they are not incentive compatible.