Some general results on equilibrium prices in large random exchange economies (Q1854749)
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English | Some general results on equilibrium prices in large random exchange economies |
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Some general results on equilibrium prices in large random exchange economies (English)
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27 January 2003
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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.
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exchange economy
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equilibrium prices
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asymptotic normality
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dependency neighbourhood
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