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Positive feedback and multiple equilibria have to be taken seriously.
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More recently, a theory of "multiple equilibria" has gained support, in which there is more than one probable outcome, with market expectations usually the deciding factor.
But since pooling equilibria have no anger, and separating equilibria do (in expected terms there will be some selfish firms), when pooling equilibria disappear, anger appears.
These equilibria have four noteworthy properties.
Such games have multiple equilibria, but once one of them has been established, players will have every incentive to keep playing it, as any deviation will be costly.
The contribution of this paper is to suggest an alternative mechanism generating multiple equilibria, one which has somewhat different policy implications.
Certainly, cases where the peptide has been shown to be disordered or adopt multiple structures in the MHC-binding groove are candidates for peptide pre-existing equilibria having influence on receptor recognition [ 35, 94– 94].
Characterizing social norms as equilibria has the advantage of emphasizing the role that expectations play in upholding norms.
The problem with equilibrium solutions is that, as in the stag hunt game, many games have multiple equilibria.
While the equilibrium point in an ideal closed reacting system is unique and globally stable, it is shown herein that nonideal systems can have multiple equilibria and that more than one of these can be stable.
Depending on the values of the nondimensional Peclet numbers, Damköhler number, the dimensionless adiabatic temperature rise, and the dimensionless activation energy, the coupled PDE equations for the temperature and concentration can have multiple equilibria that can be either stable or unstable.
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