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On the convergence to Walrasian prices in random matching Edgeworthian economies

Authors :
Athanasios N. Yannacopoulos
Bruno Oliveira
M. Ferreira
Alberto A. Pinto
Bärbel Finkenstädt
Faculdade de Ciências da Nutrição e Alimentação
Faculdade de Ciências
Source :
Repositório Científico de Acesso Aberto de Portugal, Repositório Científico de Acesso Aberto de Portugal (RCAAP), instacron:RCAAP
Publication Year :
2012

Abstract

We show that for a specific class of random matching Edgeworthian economies, the expectation of the limiting equilibrium price coincides with the equilibrium price of the related Walrasian economies. This result extends to the study of economies in the presence of uncertainty within the multi-period Arrow-Debreu model, allowing to understand the dynamics of how beliefs survive and propagate through the market.

Details

Language :
English
Database :
OpenAIRE
Journal :
Repositório Científico de Acesso Aberto de Portugal, Repositório Científico de Acesso Aberto de Portugal (RCAAP), instacron:RCAAP
Accession number :
edsair.doi.dedup.....67e59102c9de237461a02cad0228eb67