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Learning competitive equilibrium

by Sean Crockett , Stephen Spear , Shyam Sunder , 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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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

Land Rents and Competitive Equilibrium

by Martin E. Diedrich , 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 supporte ..."
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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

General Competitive Equilibrium

by Programa Sobre Ciencia, Tecnologia Y Desarrollo, Documento De, Trabajo No, Carlo Benetti, Ro Nadal, Carlos Salas Páez, Procientec Documento De Trabajo, Carlo Benetti, Ro Nadal, Carlos, Salas Páez
"... 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

Behavioral Competitive Equilibrium and Extreme Prices ∗

by Faruk Gul, Wolfgang Pesendorfer, Tomasz Strzalecki , 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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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

Competitive Equilibrium in Markets for Votes

by Alessandra Casella, Aniol Llorente-saguer, Thomas R. Palfrey , 2012
"... ..."
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Abstract not found

ADAM SMITH AND COMPETITIVE EQUILIBRIUM

by Ramesh Chandra, Ramesh Chandra
"... 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 ..."
Abstract - Cited by 1 (1 self) - Add to MetaCart
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

Information, the Internet and Competitive Equilibrium

by Damien Gaumont , 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

Monopolistic competition Equilibrium and optimality*

by Luis C. Corchón , 1990
"... In this paper, we study the relationship between efficient and optimal allocations in a Chamberlinian framework. 1. ..."
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In this paper, we study the relationship between efficient and optimal allocations in a Chamberlinian framework. 1.

Inefficiency of competitive equilibrium

by L. Panaccione , 2006
"... de l'Université catholique de Louvain ..."
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de l'Université catholique de Louvain

Nonexistence of Competitive Equilibrium

by John William Hatfield, Charles R. Plott, John William Hatfield , 2013
"... O L I O A G C Y ..."
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O L I O A G C Y
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