Approximate recursive equilibrium with minimal state space

This paper shows existence of approximate recursive equilibrium with minimal state space in an environment of incomplete markets. We prove that the approximate recursive equilibrium implements an approximate sequential equilibrium which is always close to a Magill and Quinzii equilibrium without short sales for arbitrarily small errors. This implies that the competitive equilibrium can be implemented by using forecast statistics with minimal state space provided that agents will reduce errors in their estimates in the long run. We have also developed an alternative algorithm to compute the approximate recursive equilibrium with incomplete markets and heterogeneous agents through a procedure of iterating functional equations and without using the rst order conditions of optimality.

Creating a global internet public space: is there a way forward?

Why is there such a pressing effort to find alternative modes, globally, to fashion internet policy? One must start with a simple observation: states have been considered the main political actors in international politics. Their borders gave origin to the internal/ external binomial and to the division between domestic and foreign policy. The domestic playing field would be the space where history, identity and a community of destiny could flourish, allowing individuals to engage in a public sphere as equal citizens to work to define common goals and the best way to pursue them. This space was separated from the external arena, traditionally characterized by anarchy, potential conflict and insecurity.