Approximately competitive equilibria in large finite economies.
The writers discuss exchange economies where each consumer may report or act according to any demand function as long as there are situations that the consumer finds plausible in which the reported demand performs at least as well as the real demand. They identify conditions under which, as the siz...
| Publicado en: | Journal of Economic Theory Vol. 77; no. 2; pp. 354 - 377 |
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| Autores principales: | , |
| Formato: | Artículo |
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Academic Press Inc.
December 1997
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| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | The writers discuss exchange economies where each consumer may report or act according to any demand function as long as there are situations that the consumer finds plausible in which the reported demand performs at least as well as the real demand. They identify conditions under which, as the size of the economy grows, all the market-clearing prices and allocations of the reported economy approximate the competitive equilibria of the real economy. |
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