Some general results on equilibrium prices in large random exchange economies (Q1854749)

From MaRDI portal
Revision as of 11:14, 1 February 2024 by Import240129110113 (talk | contribs) (Added link to MaRDI item.)
scientific article
Language Label Description Also known as
English
Some general results on equilibrium prices in large random exchange economies
scientific article

    Statements

    Some general results on equilibrium prices in large random exchange economies (English)
    0 references
    0 references
    0 references
    27 January 2003
    0 references
    In this paper a sequence of economies is considered where the number n of agents is growing, where the stochastic interaction between agents is described by dependency neighbourhoods and where there are (random) equilibrium price vectors for each economy. Then the paper firstly looks for conditions such that for growing n there is a certain convergence behaviour of the sequence of the mentioned price vectors (asymptotic normality), and secondly an estimation of the convergence rate is given. Examples, full proofs, hints for further investigations and finally remarks about the relations of this paper to a former one [\textit{M. Majumdar} and \textit{V. I. Rotar}, Econ. Theory 15, No. 3, 531--550 (2000; Zbl 1028.91025)] are added.
    0 references
    exchange economy
    0 references
    equilibrium prices
    0 references
    asymptotic normality
    0 references
    dependency neighbourhood
    0 references

    Identifiers

    0 references
    0 references
    0 references
    0 references
    0 references
    0 references