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The existence of such a state, its optimality, its robustness against free bargaining among agents when there are many of them, its Wliqueness, its stability when price displacements evoke specified adjustments--all these issues have been studied, and continue to be studied in a variety of settings.
The papers collected in this volume relate to game theory. (Aumann, 1985, Selten 1985) Normative game theory has the important task to explore the nature and the consequences of idealized full rationality in strategic interaction.
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