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250,885
Learning competitive equilibrium
, 2008
"... We consider a pure exchange economy repeated from a fixed endowment for an indefinite number of periods and posit a learning rule which directs convergence to competitive equilibrium. In each period trade converges to an allocation in the contract set, where agents interpret the current (common) nor ..."
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Cited by 6 (0 self)
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We consider a pure exchange economy repeated from a fixed endowment for an indefinite number of periods and posit a learning rule which directs convergence to competitive equilibrium. In each period trade converges to an allocation in the contract set, where agents interpret the current (common
Competitive Equilibrium in Market for Votes
- Journal of Political Economy,120
, 2012
"... We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of ex ante vote-trading equilibrium and show by construction that an equilibrium exists. The equilibrium we characterize ..."
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Cited by 4 (2 self)
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We develop a competitive equilibrium theory of a market for votes. Before voting on a binary issue, individuals may buy and sell their votes with each other. We define the concept of ex ante vote-trading equilibrium and show by construction that an equilibrium exists. The equilibrium we
General Competitive Equilibrium
"... This paper investigates the mappings used in the proof of existence of a general competitive equilibrium in Arrow-Debreu models, the single most important result of neoclassical theory in the last fifty years. It is claimed that these mappings represent the law of supply and demand. The paper examin ..."
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This paper investigates the mappings used in the proof of existence of a general competitive equilibrium in Arrow-Debreu models, the single most important result of neoclassical theory in the last fifty years. It is claimed that these mappings represent the law of supply and demand. The paper
Land Rents and Competitive Equilibrium
, 2001
"... We study the technological pre-conditions for competitive equilibrium in a multisectoral economy where"land" is an essential imput. Earlier results by Bidard and Salvadori require either very low interest rates or are unable to predict the type of final demand vectors that can be supported ..."
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We study the technological pre-conditions for competitive equilibrium in a multisectoral economy where"land" is an essential imput. Earlier results by Bidard and Salvadori require either very low interest rates or are unable to predict the type of final demand vectors that can
Behavioral Competitive Equilibrium and Extreme Prices ∗
, 2011
"... A behavioral competitive equilibrium restricts households ability to tailor their consumption to the state of the economy. Compared to standard competitive equilibrium, a behavioral competitive equilibrium yields more consumption risk and extreme price volatility when the realized output is near its ..."
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Cited by 2 (0 self)
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A behavioral competitive equilibrium restricts households ability to tailor their consumption to the state of the economy. Compared to standard competitive equilibrium, a behavioral competitive equilibrium yields more consumption risk and extreme price volatility when the realized output is near
Information, the Internet and Competitive Equilibrium
, 2001
"... Abstract1 We analyse the consequences of an increase of information (say as a consequence of the internet), on the equilibrium of a pure exchange economy with n goods and m agents. We assume that such an increase modifies the characteristics of goods la Lancaster and has a positive effect on utility ..."
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Abstract1 We analyse the consequences of an increase of information (say as a consequence of the internet), on the equilibrium of a pure exchange economy with n goods and m agents. We assume that such an increase modifies the characteristics of goods la Lancaster and has a positive effect
ADAM SMITH AND COMPETITIVE EQUILIBRIUM
"... A view has emerged which sees Adam Smith’s main contribution to economics in terms of his equilibrium theory. This paper argues that equilibrium economics was neither Smith’s main contribution nor his chief concern. It is true that Smith made a few observations which may be construed as equilibrium ..."
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Cited by 1 (1 self)
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A view has emerged which sees Adam Smith’s main contribution to economics in terms of his equilibrium theory. This paper argues that equilibrium economics was neither Smith’s main contribution nor his chief concern. It is true that Smith made a few observations which may be construed as equilibrium
Recursive Competitive Equilibrium
, 2006
"... Prepared for the The New Palgrave Dictionary of Economics, 2nd edition. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. ..."
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Prepared for the The New Palgrave Dictionary of Economics, 2nd edition. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.
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